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May 18 - 04:55 PM

USD/JPY - Dives On Derisking, Probing Key Supports

By Randolph Donney  —  May 18 - 03:10 PM

  • USD/JPY down nearly 1% as stocks and Tsy yields slide

  • Global growth angst amid CB tightening takes its toll, lifts haven yen

  • Prices probing 30-DMA and kijun at 128.23-24; May's 127.535 low next

  • Lack of BOJ tightening expectations actually a plus for haven yen

  • Fed, ECB et al tightening seen raising recession risks

  • Key props are by 127 and 126, weeklies worrying nL2N2XA1CY

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Source:
Refinitiv IFR Research/Market Commentary

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