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USD/CNH Bearish Momentum With A 4% Drop In The Last 21 Sessions

(VIANEWS) – USD/CNH (USDCNH) has been up by 4.2% for the last 21 sessions. At 18:07 EST on Thursday, 16 February, USD/CNH (USDCNH) is $6.87.

USD/CNH’s yearly highs and lows, it’s 0.068% up from its 52-week low and 0.019% down from its 52-week high.

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  • Usd/jpy tracks downbeat yields, hawkish boj concerns near 132.00, focus on US inflation. According to FXStreet on Tuesday, 14 February, "Following that, the official nomination of Kazuo Ueda as the BoJ leader weighed on the USD/JPY prices. ", "Moving on, the market consensus anticipates 6.2% YoY print of the US CPI for January but the odds of the positive surprise during the year-start are high, which in turn keeps USD/JPY bears on the dicey floor."
  • Usd/jpy reclaims 133.00 after mixed January’s US CPI report. According to FXStreet on Tuesday, 14 February, "In an alternate scenario, the USD/JPY struggling to hold above 133.00 would open the door toward the 50-day EMA At 132.67, ahead of the 132.00 figure.", "After hitting a daily low of 131.49, the USD/JPY encountered some buyers around the latter, rallying sharply towards 133.00, underpinned by the US 10-year Treasury bond yield. "
  • Usd/jpy stays above 132.00 on Japan gdp, boj nominations, US inflation eyed. According to FXStreet on Tuesday, 14 February, "That said, the Japanese government is up for formally announcing their nominations for the BoJ leadership on Tuesday, making Bloomberg’s piece important for the USD/JPY pair traders.", "Following the data, the USD/JPY pair bounced off its intraday low before reversing to 132.25 by the press time."
  • Usd/jpy: correction from six-week highs stalls near 132.50, US data eyed. According to FXStreet on Wednesday, 15 February, "The rush to safety in the US bond market is sending the US Treasury bond yields lower, in turn, weighing down on the USD/JPY pair.", "From a short-term technical perspective, USD/JPY is reattempting the 133.00 level, having found support near the 132.50 psychological level."
  • Usd/jpy price analysis: bulls flirt with 133.00 inside monthly rising wedge. According to FXStreet on Wednesday, 15 February, "It should be noted that the 130.00 round figure will act as an extra filter towards the south of 130.60 before directing the USD/JPY sellers towards the theoretical target of the stated wedge, namely 125.50.", "That said, the USD/JPY remains inside a one-month-old rising wedge bearish chart formation."

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