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Apr 30 - 10:55 PM

USD/JPY - Rising Treasury Yields Continue To Underpin

By Andrew M Spencer  —  Apr 30 - 08:30 PM
  • -0.05% after closing +0.95% after strong US data saw 2yr UST hit a 2024 high

  • Rising Treasury yields after stronger-than-expected US data support USD/JPY

  • 2yr UST -1bp to 5.0309 in early Asia, Nikkei -0.65% after Wall Street's fall

  • BOJ remains ready to intervene when necessary - spent around $35bln Monday

  • Charts: 21-day Bollinger Bands, 5, 10 & 21-day moving averages head higher

  • Daily charts remain positive - a close below 154.36 21 DMA would be bearish

  • Horizontal Tenkan and Kijun lines suggest a period of consolidation

  • Tuesday's 156.50 early European low is initial support

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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