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Thomson Reuters
Oct 03 - 03:48 PM
USD/JPY's Rendezvous With 115+ Targets Hastened By ADP, ISM
First appeared on eFXplus on Oct 03 - 02:25 PM
  • USD/JPY clears prior 2 days' peaks by 114 on stellar US data
  • Bolstered by 10 and 30-yr Tsy yield breakouts to highest since 2011/14
  • 10-yr Tsy-JGB yield spreads now at their highest since June 2007
  • Front end pricing in higher probability of Fed hikes in Dec and beyond
  • USD/JPY aided by DJI making new all-time high, VIX lowest since August
  • 161.8% Fibo targets off Aug & Sept lows at 115.08/15, 115 KO option 1st
  • 76.4% retrace of 2016-18 drop, March 2017 high at 115.33/51 main targets
  • Some dip risk after 115+ targets hit to trim spec longs, overbought RSI

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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