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Feb 28 - 05:55 PM

USD/JPY - Uptrend Facing A Potential Make-Or-Break Moment On Thursday

By Randolph Donney  —  Feb 28 - 01:45 PM
  • USD/JPY is being squeezed up by 2024's up TL into 2024's 150.88 highs

  • Pullback in Treasury yields Wed robbed it of macro backing for a breakout

  • Focus now on Thur's core PCE and key Feb data next week to drive higher

  • Huge repricing lower of Fed's 2024 rate cuts is now being weighed

  • If core PCE is at or above f/c, a run at 2022/23's peaks a better bet

  • More bullish would be if jobless claims, ISMs and NFP are also hawkish

  • Market wants assurances delayed Fed cuts won't raise risk of a slowdown

  • BoJ rate hike hopes questioned somewhat on Wednesday

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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