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Oct 21 - 05:55 AM
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USD/JPY - Dips On BOJ Deputy, But Cloud And October Underpins
By Martin Miller — Oct 21 - 04:24 AM
• USD/JPY has slipped as BOJ Deputy Governor Himino stated policy remains loose despite hike
• Spot edged down to 158.03 from 158.39, on Wednesday, on the EBS
• However, the overall bias remains on the upside as USD/JPY usually climbs in October
• The thick cloud, that currently spans the 155.73-158.44 region, continues to underpin
• USD/JPY and EUR/JPY tend to move in tandem, 30 and 60-day
log correlations are high above +0.5
Daily Chart
Correlation Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters