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Jan 25 - 05:55 PM

USD/JPY - Getting That Sinking Feeling Again Ahead Of Key Data And Fed Meeting

By Randolph Donney  —  Jan 25 - 02:10 PM

  • USD/JPY losing altitude again as post-BoJ rebounds get faded on Fed doubts

  • Lower Tsy-JGB yield spreads weigh; Mon's 129.05 low is an on-close pivot pt

  • Markets bracing for big U.S. data dump Thur-Fri, with core PCE top of bill

  • Downtrend from Oct's 32-yr peak eyes 50% of pandemic's 50% rise at 126.56

  • That key retracement is by last May's major low at 126.37

  • Those props are in reach if U.S. data favor a Fed rate-hiking pause soon

  • Bulls need a close above the kijun and 30-DMA, now at 131.00/78 on EBS

  • Would need well-above-f/c U.S. data for that to happen

  • Yen modestly lifted by Dai-ichi Life's 5% wage hike nL4N34A5QO

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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