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USD/JPY Testing Thursday’s High

JPY

USD/JPY has added a handful of pips early on and is testing Thursday’s peak (Y114.47). A reminder that the S&P 500 tested its all-time highs on Thursday as omicron worry receded, which supported the cross. Any break above yesterday’s high would switch focus to the 76.4% retracement of the Nov 24-30 downleg (Y114.81). CPI and PPI services data headline the local Japanese docket on Friday but shouldn’t impact JPY crosses. Trading conditions will of course be thin as many participants have already broken up for Christmas.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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