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Jan 11 - 03:55 PM

USD/JPY - Rebound Limited By Post-Powell Pullback In Treasury Yields

By Randolph Donney  —  Jan 11 - 02:15 PM

  • USD/JPY slipped from a 115.69 EBS high by 100-HMA on reaction to Powell

  • Tsy yields softer after Powell outweighed risk-on bid from stocks rise

  • Inside day, but 5th straight day with lower highs after Jan. 4's 5-yr peak

  • Bearish bias unless tenkan and Jan 5-6 lows at 115.65/625 are closed above

  • 38.2% Fibo off rise from Dec. 17 low at 115.13 is an on-close pivot pt

  • The 50% Fibo and daily kijun are at 114.75

  • Daily RSIs no longer O/B, but bearish O/B divergence yet on weeklies

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Source:
Refinitiv IFR Research/Market Commentary

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