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Jun 23 - 06:55 AM

USD/JPY - Rises To Within Striking Distance Of Its 2021 Peak

By Martin Miller  —  Jun 23 - 04:50 AM
  • USD/JPY has seen a 110.63-110.92 range, according to prices on the EBS

  • Dollar's technical outlook against yen remains quite positive

  • Overall focus is on the 2021 110.97 (EBS) peak posted back in March

  • There has been some market talk of large offers circa 111.00

  • Dollar speculative shorts have paid a very heavy price nL2N2O30EQ

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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