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Sep 16 - 08:36 AM
USD/JPY - Bulls Slowly Rebuild After "risk-Off" Fueled Drop
First appeared on eFXplus on Sep 16 - 06:20 AM
  • Oil-exporter currencies, safe havens rally after Saudi attacks nL5N2671HS

  • U.S. blames Iran for oil attack, Trump says 'locked and loaded'

  • Dropped to 107.44 in Asia, then recovered to 107.93 in Ldn, according to EBS

  • Bulls have scope to fill NY close/Asia open 108.10/107.60 gap

  • But a break and daily close below cloud base, now at 107.19, will weaken

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.77/+0.75

USD/JPY vs EUR/JPY Correlation Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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