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Yen Pressured As US Yields Rise

JPY

USD/JPY prints at ¥144.70/80, the pair rose ~0.2% yesterday.

  • The Yen was pressured in the NY session as US Q1 GDP was firmer than expected and US Tsy Yields rose.
  • USD/JPY rose ~0.5% from trough to peak, consolidating its gain below ¥145 handle.
  • Resistance comes in at ¥145.00, round number resistance with ¥145.48, 2.0% 10-DMA envelope, providing the next resistance level. Support is seen at ¥143.29 the low from June 27.
  • On the wires today we have Tokyo CPI, a rise of 3.4% Y/Y is expected in the headline figure. Also crossing is the May Jobless Rate and preliminary read of May Industrial Production.

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