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Oct 13 - 06:55 AM
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USD/JPY - Stumbles But A Bigger Collapse Remains Unlikely
By Martin Miller — Oct 13 - 04:47 AM
• Yen strengthens as BOJ wholesale data was enough to justify fears of higher interest rates
• USD/JPY has slipped from 158.64 to 158.00, on Tuesday, on the EBS
• However the cloud, that currently spans the 156.64-158.44 region, should prevent a collapse
• The tenken and kijun lines on the daily chart are bullishly aligned
• The overall bias remains on the upside as the pair usually climbs in October
• USD/JPY and EUR/JPY tend to move in tandem, 30 and 60-day
log correlations are high above +0.5
Daily Chart
Correlation Chart
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters