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Sep 14 - 04:55 PM

USD/JPY - Again Find Buyers At 147.02 After Post-US Data, ECB Dip, 148 Thwarts

By Randolph Donney  —  Sep 14 - 02:35 PM
  • USD/JPY about flat after post-US data and ECB swings

  • US sales, PPI and claims were ostensibly USD supportive

  • But lack of firmer Fed hike pricing and high gas price drivers weighed

  • As did notion that the ECB's dovish hike reduced pressure on Fed to hike

  • In the end, Tsy yields did firm to support USD/JPY

  • But the uptrend remains in an eighth day of consolidation below 148

  • That with doubts about timing of further BoJ easing its YCC or NIRP

  • And whether the MoF will feel the need to support the yen pre-150

  • Prices remain in 2023's rising channel, the top of which is near 150

  • Would take a sub-21-DMA and kijun -by 146 & 145.57- close to dent uptrend

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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