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Dec 11 - 04:55 PM

USD/JPY - Basing Pattern Weakens, But Forth Inside Week For The Havens

By Randolph Donney  —  Dec 11 - 02:40 PM
  • USD/JPY ended a 5-day run of higher daily lows today

  • But it's wrapping up a fifth straight inside week

  • Thur's bearish rejection by the cloud base brought a new weekly low today

  • Early dip in Tsy-JGB yield spreads and broader haven yen demand weighed

  • Need a close beyond the 103.655-4.76 3-week EBS range to end the stalemate

  • Downtrend line from March slips to 105.07 on Monday

  • Cloud base next week is in the 104.53-54 range

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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