By Andrew M Spencer — Jan 03 - 06:05 PM
Steady after closing +0.3% on broad USD strength - yen firm EUR/JPY -0.85%
Lower UST yields saw yield spreads tighten, supporting yen on the crosses
Japan PM, new BOJ boss could review inflation commitment Nikkei nL1N33O0IQ
Expectations of a more hawkish BOJ stance has fuelled recent yen strength
Charts; neutral momentum studies, 21 day Bollinger bands head lower
5, 10 & 21 DMAs fall, Tenkan and Kijun lines flat line - bearish bias
134.70 horizontal Kijun line capped in December - remains pivotal resistance
129.51 Asian low Tuesday and 128.16, 61.8% 2022 rise is the next support
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Source:
Refinitiv IFR Research/Market Commentary