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Dec 30 - 11:00 PM
USD/JPY - Illiquid Break Into The Cloud, As USD Losses Extend
First appeared on eFXplus on Dec 30 - 09:45 PM
  • Off 0.2% in Asia, as recent USD losses extend in Asia, AUD/JPY is flat

  • JPY correlation with risk is not working, now risk on and JPY strength

  • Close below 109.08 Kijun line was negative but 108.70 cloud break today key

  • Dip has caused a sharp Tenkan line fall - poised for a bearish Kijun cross

  • JPY hasn't closed in the cloud since September, so the dip is significant

  • Close below 108.70 would initially target the 107.98 cloud base

  • Tokyo bank holiday, year end and thin, so caution required

jpy2 dec 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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