G10 FX Spot Commentary

JPY: Support – 97.50 Resistance – 98.50
Apparently the revision of consumption tax hikes was a bullish development, but right now the overall structure of Abenomics is being called into question (lower approval ratings, CPI driven by energy prices) in a weaker dollar environment. Not a positive backdrop for USD/JPY. Don’t really see a need to be involved before Wednesday. Read more

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