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USDJPY Briefly Through Intraday High, Still Eyeing 150

JPY

It feels like we've said this a few times in late afternoon European trade, but - watch the yen - USDJPY has just gone through the earlier intraday high (and post-1990 high) of 149.289, quickly rising to 149.38 before snapping back to 149.08.

  • As we have noted already today, the path of least resistance remains higher: next target 150.
  • No particular news driving the move is apparent, though US Tsys weakening (30Y making headlines with a yield move to fresh post-2011 high).

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