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Feb 28 - 05:55 PM

USD/JPY - Holds Gains Though Off Day's High As Yields Fall

By Robert Fullem  —  Feb 28 - 02:24 PM

• USD/JPY trims an earlier gain as Trsy yields slide, shares fade

• Pair settles at top end of 149.10-150.99 EBS session range

• EUR/JPY's advance fades after Trump, Zelenskiy engage in shouting match

• Daily futures data suggest market remains net long yen

• Risk of USD/JPY short-covering as stochastics starts to favor bulls

• Resist: 151.11 weekly cloud bottom; 151.45 Feb 20 high

• Supp: 149.89 Feb 26 high; 148.56 Feb 25; low 148.55 100-week MA

• Japan PMI is due Tuesday, BOJ Ueda slated to speak midweek
Yen


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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