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Mar 01 - 04:55 PM

USD/JPY - Uptrend's Correction Caught By Techs And New Fed Hike Peak Pricing

By Randolph Donney  —  Mar 01 - 01:40 PM

  • USD/JPY only modestly lower amid much broader dollar weakness Wednesday

  • Pullback from Mon's peak by key resistance caught by 200-HMA at 135.25

  • Rebounded with Tsy yields to 136.34 on EBS on Fed hawk talk, ISM prices

  • Uptrend delayed by 100- & 200-DMA and Dec. 20 key high at 136.88/7.23/46

  • Fri's ISM non-mfg looks key after Wed's mfg data lifted Tsy yields

  • Japan data and BoJ guidance remain yen-bearish nL1N3591KU

  • If ISM and payrolls meet or beat f/c, 50% Fibo at 139.58 may be in play

  • Soft data and a sub-134 close are needed to undermine the uptrend

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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