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Yield Dynamics & Abe Under Scrutiny

DOLLAR-YEN

USD/JPY prints around Y106.55 at typing after the post-Powell chop evident on Thursday saw the rate knee jerk lower, forming a base around Y105.60 before U.S. yields snapped higher, dragging the cross upwards, topping out at Y106.70. Thursday's high now represents the initial point of resistance, with U.S. Tsy yield dynamics in Asia set to come under scrutiny. Any move through that level will allow bulls to focus on Y107.05, the Aug 13 high and bull trigger. To the downside, initial support is seen at the Aug 21 low of Y105.44.

  • Looking to Friday's local docket, BoJ 10-25+ Year Rinban ops and Tokyo CPI are due. Participants also eye Japanese PM Abe's address.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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