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Aug 17 - 05:55 AM

USD/JPY - New Multi-Month High, Japan Quiet, Huge Strike Below

By Martin Miller  —  Aug 17 - 04:00 AM
  • Dollar shines against battered yen nL1N39Y09AnL1N39X0NV

  • Yen pressured as a result of rate differentials between the U.S. and Japan

  • USD/JPY has seen a 146.20-56 range, on Thursday, according to EBS prices

  • The 146.56 print is the highest level seen since November 2022

  • Spot above long-term 146.11 Fibo, watch where it ends the week nL1N39Y0DU

  • Caution over possible FX intervention, but Japan noises conspicuously absent

  • Huge 145.50 strike to expire at NY cut could exert magnetism nL1N39X1R6

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are both above +0.70

Source:
Refinitiv IFR Research/Market Commentary

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