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Jun 30 - 04:55 PM

USD/JPY - Probing Hurdles By 108 Ahead Of Key U.S. Economic Releases

By Randolph Donney  —  Jun 30 - 03:10 PM
  • USD/JPY's probed the kijun & 50% Fibo at 107.96 after US confidence beat

  • Yen seen as a key funding currencies, sold as stocks rebound

  • Pair even bid early despite lower Tsy-JGB yields then nL1N2E70V3

  • Yield spreads higher after confidence beat nL1N2E7157

  • Close above 107.96 hurdles would eye the 61.8% at 108.41 next

  • Would also favor run to cloud top about to flatten out at 108.85

  • Recent expansion of IMM spec shorts at risk of squeeze in 108.00s

  • Support now above 107.50 and the tenkan at 107.03 on EBS

  • For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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