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Nov 11 - 04:55 AM
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USD/JPY - Eyes 159.03 High, But Beware Intervention Wariness
By Martin Miller — Nov 11 - 02:52 AM
• USD/JPY closed above the cloud, that currently spans 157.14-158.42, on Tuesday
• That puts the overall focus on the 159.03, September 24 high
• Spot has seen a 158.67-158.96 range so far, on Wednesday, according to EBS data
• Good offers still around 159.00 capping upside, may include Japan exporters
• Note FX traders are wary of intervention in USD/JPY above 159.00
• EUR/JPY usually rises in November; chart hints at repeat
Daily Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters