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USD/JPY Treads Water After Four Consecutive Days Of Losses

DOLLAR-YEN

USD/JPY slipped Tuesday as participants sought safe havens and positioned
ahead of today's MonPol decision from the FOMC. The rate extended recent
losses to a new multi-month low, as it tested the water under the Y105.00 mark.

  • Mainichi reported that Japan will offer guidelines for coronavirus
    responses, as domestic case count remains under scrutiny.
  • The pair trades flat at Y105.08. Losses past yesterday's low of Y104.96 would
    open up the lower 2.0% 10-DMA envelope at Y104.28. Bulls look for a jump
    above Jul 27 high of Y106.16 before targeting Jul 24 high of Y106.90.
  • Japanese retail sales come out Thursday, while unemployment and flash
    industrial output are due Friday.

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