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Apr 29 - 04:55 PM

USD/JPY - Holds In Range, Yen Crosses Are Pressured

By Robert Fullem  —  Apr 29 - 02:36 PM

(Adds chart)

• USD/JPY meanders in 141.97-142.76 EBS range as U.S. shares advance

• Sentiment improves as yields ease, US admin. publicizes tariff progress

• Commerce Scty Lutnick says waiting for foreign approval on one deal

• Lutnick also outlined selected tariff relief for the auto sector

• Trsy Secty Bessent said wants long-term deals, tariff revenue for tax relief

• Pair dipped to day's low after slide in consumer conf., job openings

• Risk reversals widen in favor of USD downside after the US data

• USD/JPY seasonality turns bearish in May, lower oil underpins Asia FX

• Japan trade talks and BOJ decision upcoming

• Supp: 141.96 conversion line; 141.68 Apr 22 high; 141.54 April 23 low

• Resist: 143.99-144.00 Apr 9-10 lows; 144.55-60 Apr 4 low and Apr 11 high

• Yen crosses are broadly lower ahead of BOJ policy meeting
Yen


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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