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Yen plummets to multi Year lows

USD
  • The Dollar is mostly flat at the start of a new day, and early European session, main focus since Yesterday's BoJ rate decision has been on the Yen, with the latter plummeting across the board.
  • USDJPY had already cleared the initial key level of 150.89 Yesterday, and saw big further upside continuation overnight.
  • Next key resistance comes at 151.91/95 High Nov 13 / High Oct 1 ‘22 and major resistance, but the Street will be cautious of intervention risks.
  • EURJPY has now also cleared the 2023 high, and exchange hands at its highest level since 2008.
  • Next immediate resistance here is at 164.86 1.00 proj of the Jan 2 - 19 - Feb 1 price swing.
  • AUDJPY is at session high and eye the immediate 2024 high situated at 99.057, highest print since 2014.
  • GBPJPY is off its high, but nonetheless still trades at its highest level since 2015.Main key upside target is at 195.885, the 2015 and the highest print since 2008.

(All prices are according to Bloomberg).

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