eFX Apex
The Institutional-Grade Data Hub
- Plus: Discretionary Trades
- Edge: Sentiment Trades
- Alpha: Systematic Trades
- Apex: Full Big Data Stream
Jul 13 - 06:55 AM
–
USD/JPY - Consolidates Below Cycle High With CPI The Next Catalyst
By The views — Jul 13 - 04:49 AM
• USD/JPY consolidating, spot pinned to 200-hour MA cluster around 162
• Lack of follow-through above 162.84 cycle high keeps topside momentum in check
• Downside still limited for now, 160.70 remains the key near-term pivot
• GPIF headlines a slow burn but incrementally JPY/JGB supportive - no allocation shift, focus within bands
• Geopolitics keeping oil firm as Iran tensions escalate, which is helping keep USD/JPY bid
• Overall conviction light into Tuesday’s US CPI
• Hot CPI seen reopening 162.84, break would target 163.50
next
USDJPY hourly chart
Justin McQueen is a Reuters market analyst. (The views expressed
are his own).
((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters