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Jul 18 - 04:55 PM

USD/JPY - Gives Back A Bit More Ground But Still Well Above Key Supports

By Randolph Donney  —  Jul 18 - 02:40 PM

  • USD/JPY fell 0.34% amid broader correction of the overbought dollar

  • Fed hike pricing trimmed from post CPI, PPI, RS peaks

  • Monday's yield gains trimmed on dour NAHB, late stocks, Tsy yld slide

  • Prices near the 137.895 EBS Monday lows, big 138 option expiries

  • Next props are the tenkan and 10-DMA at 137.165/12 last on EBS

  • Session high at 138.53 by the upper 21-day BB, Fri's below the 10-day BB

  • More U.S. housing data this week, BOJ and ECB Thur, latter looks key

  • Topside limited by Thur's 139.38 24-yr peak, then big hurdles by 140

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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