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Jun 29 - 04:55 PM

USD/JPY - Up With Dollar, But New 24-Year 137 High Hit Options, Risk-Off Hurdles

By Randolph Donney  —  Jun 29 - 02:40 PM

  • Early 137 peak on EBS amid broad USD and early energy price gains

  • The new 24-year high also right at major 137 options expiries

  • Initial bid on Fed, ECB comments nL1N2YG1C9 faded as risk came off

  • Markets worried Fed's inflation fight could end with recession

  • Tsy yields and stocks slipped, weighing on USD, helping haven yen

  • Buyers found near Tuesday's 136.38 high, early NY lows Wednesday

  • Thur's U.S. PCE, income, spending and saving the next event risk

  • Claims eyed for any unexpected upward movement

  • Close above 137 would open door 161.8% Fibo off 2021's low at 138.62

  • Next major historical hurdle is at 139.90, 140 a big target for some

  • Decent support at 10-DMA, last at 135.34, rising tenkan at 134.58

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Refinitiv IFR Research/Market Commentary


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