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Oct 10 - 08:55 PM

USD/JPY - U.S. Dollar Strength To Keep BoJ Side-Lined Here

By Andrew M Spencer  —  Oct 10 - 06:50 PM

  • Steady after closing up 0.2%, with EUR/JPY down 0.1% and AUD/JPY -0.8%

  • Closed in intervention territory at 145.72, but on USD strength

  • Yen has been stronger on the crosses for four days, BoJ likely side-lined

  • Japanese officials clear that intervention will only occur on yen weakness

  • Longer term yen weakness likely as U.S. and Europe yield spreads widen

  • Charts; Tenkan and Kijun lines edge higher, providing underlying support

  • Kijun line held after BoJ intervention, now pivotal support at 143.07

  • 144.66 Tenkan line, a base last week, and 145.90 Sept top support resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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