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Sep 09 - 05:55 PM

USD/JPY - Bulls Battered By Treasury Yields And Stocks Drop, 109.57 Kijun Key

By Randolph Donney  —  Sep 09 - 02:18 PM
  • USD/JPY in steady retreat Thursday on Tsy yields fell, then stocks drop

  • Dollar broadly lower on worries about Fed taper timing nL1N2QB1ZU

  • Yen in demand as haven with risk markets wary of central bank normalization

  • Prices down 0.55% and by Aug. 31 and Sep. 3 lows at 109.59 on EBS

  • Bigger pivot on Friday's close is weekly Kijun at 109.57 nL1N2QB1PX

  • Prices have been above the kijun since it was at 104.77 in February

  • Falling tenkan also a threat to cross bearishly soon

  • Aug. 16-17 lows at 109.115-12 are the decent support

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Source:
Refinitiv IFR Research/Market Commentary

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