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Jan 31 - 02:55 AM

USD/JPY - Surges In Thin, Late-Tokyo Trading On Tariffs

By Haruya Ida  —  Jan 31 - 12:53 AM

• Short-covering and fresh spec buys in thin, late-Tokyo trading

• Promise of Trump tariffs on Canada/Mexico/China February 1 seen behind move

• USD/JPY surged to 154.88 EBS, high earlier 154.51, low 153.93

• USD/JPY up against descending hourly Ichimoku cloud between 154.88-155.12

• Descending 154.79 55-HMA pierced, 100-HMA 154.97 in cloud, 200-HMA 155.45

• Bump up in US yields in afternoon Tokyo trading seen USD supportive

• More upside possible but Japan not tipped to be in tariff mix at this time

• Massive option expiries today at 155.00 $1.4 bln, between 155.35-50 $1.3 bln

• Options likely to help cap further USD/JPY rises

• Related comment , also , for more click on [FXBUZ]

USD/JPY hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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