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Apr 04 - 01:55 AM

USD/JPY - Into Lower Range After Plunge, JPY Crosses Mixed

By Haruya Ida  —  Apr 03 - 11:43 PM

• USD/JPY into a 145.55-146.40 EBS range following plunge to 145.19 overnight

• Market seen on hold ahead of the weekend and week chock-a-block with news

• Overall bias still down but profit-takes on shorts noted from lows

• Seems move overnight achieved targets for some players

• Most in Tokyo now on sidelines with eyes on moves overseas, fresh news

• Both US Treasury and JGB rates easy on risk-off mood, safe-haven plays

• Little change in Japan-US interest rate differentials, at recent narrows

• Only option expiries of note today 145.75 $300 mln, 147.00 $1.4 bln to cap?

• BOJ's Ueda warned of hit to economy from Trump tariffs but remained hawkish

• DepGov Uchida vowed to keep raising rates with inflation high

• February household spending data better than eyed but off on y/y basis

• Nikkei down large alongside other Asian bourses, -2.6% @ 33,818 at AM close

• EUR/JPY off to 160.16 fresh recent low o/n but 161.10-162.00 EBS in Asia

• Back between descending 100 and 200-DMAs at 160.78 and 162.36

• GBP/JPY off small leg to 190.63-191.75, in 190.37-192.96 daily Ichi cloud

• AUD/JPY weakest of lot, 92.62 to 91.30 and lowest since 90.11 on Aug 5 '24

• Option expiries Monday at 90.00 A$410 mln, 92.00 A$410 mln

• Related comment , also , on AUD/JPY

• BOJ-speak , , ,

• On Japan data , for more click on [FXBUZ]

USD/JPY hourly:


EUR/JPY hourly:


AUD/JPY hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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