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Sep 03 - 11:55 AM

USD/JPY - Gains Slowed By 55-DMA, Lower Treasury Yield, Stocks

By Randolph Donney  —  Sep 03 - 09:35 AM
  • USD/JPY's 106.55 EBS high is by the pivotal 55-DMA at 106.51

  • Numerous intraday rises past that MA, but no closes above since July 7

  • Despite bigger-than-forecast claims drops nL1N2FZ1R7 Tsy yields heavy

  • U.S. July trade deficit bigger than forecast, June rev down nAQN031S4X

  • Global downward pressure on rates as Fed, ECB, BOE all seen very dovish

  • Prices inside the 106.27-7.26 daily cloud, top flattens at 107.02 Friday

  • August range highs, 100-DMA & upper 21-day Bolli are also near 107

  • Slow grind higher expected with support from the 21-DMA at 106.10

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Refinitiv IFR Research/Market Commentary


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