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USD/JPY Inches Lower With Japan Off For Holidays

JPY

USD/JPY sticks to a tight range after generally trading sideways Friday, with Japan observing a public holiday today. The rate trades at Y103.80, marginally below neutral levels.

  • Japanese PM Suga said that the nation's "Go-To" campaign promoting domestic travel will be suspended in areas experiencing the resurgence of Covid-19 infections. The PM didn't name any specific locations.
  • A dip through Nov 18 low of Y103.65 would allow bears to set their sights on Nov 6/Mar 12 lows of Y103.18/09. Conversely, a rebound above the 20-EMA at Y104.44 would expose Nov 13 high of Y105.16.
  • Focus in Japan moves to Friday's Tokyo CPI.

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