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Feb 15 - 06:55 AM

USD/JPY - Demand Taking A Firm Hold; Strengthens Tech Break

By Peter Stoneham  —  Feb 15 - 04:40 AM
  • Long lower candle shadows a feature of USD/JPY since Feb. 2

  • The shadows highlighting supply fade and demand on dips theme

  • Broad based dollar gains following hawkish U.S. price data Tuesday

  • Contrasting BOJ-Fed expectations, widening of rate differentials eyed

  • USD/JPY breaks through the 132.99 Ichimoku cloud base: significant

  • Last close inside the cloud November 2022: cloud top a target at 139.17

  • Not sure dollar has the legs for that kind of a run but trend is building

  • A 38.2% Fibo of the 151.94-127.22 drop is at 136.66: 200DMA at 136.87

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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