By Justin Mcqueen — Oct 22 - 05:35 AM
152 has marked a key pivot for USD/JPY since the BoJ intervened in 2022
In turn, bulls may look to take profit ahead of this level
The 200DMA at 151.36 will also challenge further upside
Elsewhere, the U.S. 10yr yield is testing a key hurdle at the 55WMA (4.21%)
After a 60bp move higher in the 10yr yield over the course of a month
The 55WMA may cap in short-run, providing a reprieve for the yen
Keep in mind that JP officials are beginning to flag weak yen concerns
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Source:
Refinitiv IFR Research/Market Commentary