Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 19 - 06:12 AM

USD/JPY - Rises Toward 107.50-55 Big Expiry And 55-DMA, Risk-On Bid

By Randolph Donney  —  May 18 - 08:45 AM
  • USD/JPY's tentative uptrend being drawn to $2.1bln 107.50 expiry today

  • That by the 55-DMA at 107.55 that capped last week's 107.76 EBS high

  • General sense that global reopenings are going ok is lifting risk

  • Treasury-JGB yield spreads, stocks, commodities firmer to start week

  • Still trepidation re depth, duration of pandemic economic losses

  • But bulls holding an edge as cloud base, tenkan, 10-DMA bring bids

  • Close above the kijun & cloud top at 107.27/30 would reinforce bulls

  • But April 16, 17 highs and 61.8% Fibo at 108.08 is crucial resistance

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2020 eFXdata · All Rights Reserved
!