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Yen Pressured On Tuesday, Trade Balance On Tap

JPY

USD/JPY prints at ¥147.85/90, the pair is little changed from opening levels.

  • On Tuesday the Yen was pressured as US Tsy Yields ticked higher, USD/JPY rose ~0.2% meeting resistance ahead of the ¥148 handle.
  • Technically the trend needle points north. Immediate focus for bulls is the Sep 15 high (¥147.95), the next resistance level comes in at ¥148.40 (high from 4 Nov 2022). Support is at ¥145.91, low from Sep 11.
  • Due to cross this morning is Aug Trade Balance, a deficit of ¥678.5bn is forecast.

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