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Yen Catches Bid Ahead Of Holiday

JPY

USD/JPY went offered in Tuesday's Asia-Pac session, bottomed out at Y113.46 in the London morning, and trimmed losses through the rest of the day. Defensive flows were evident in G10 FX space, ahead of the imminent FOMC monetary policy meeting.

  • As a reminder, markets in Japan are closed in observance of a public holiday.
  • USD/JPY trades flat at Y113.97, with bears looking for a slide through Oct 28 low of Y113.26, which would expose Oct 12 low of Y113.00. On the flip side, gains past Oct 20, 2021/Nov 6, 2017 highs of Y114.70/73 would bring Mar 10, 2017 high of Y115.51 into play.

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