BUZZ-Dollar uptrend vs yen pauses pre-Fed atop 10-day MA support

JGB yield spreads softer on risk of dovish Fed amid Delta variant

  

* USD/JPY trades a 110.125-58 range on EBS just above 10-DMA at 110.115

* Down 0.13% last and homing in on the kijun and 21-DMA at 110.365-405

* Treasury-JGB yield spreads softer on risk of dovish Fed amid Delta variant

* No policy changes expected at Wed's meeting, but Powell seen cautious

* Fri's outside up day close above kijun & 50% Fibo of July drop was bullish

* But 61.8% Fibo and July 14 B-wave high at 110.67/70 are the next hurdles

* Bullish that the 10-DMA propped today, spec longs didn't panic last week

* July high and 161.8% Fibo objective at 111.66/70 are eyed while above cloud

^> (Randolph Donney is a Reuters market analyst. The views expressed are his own.) ((Randolph.Donney@ThomsonReuters.com))


More From Currencies