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Jan 28 - 08:36 AM

USD/JPY - FX Traders Remain Jittery, USD/JPY Breaks Cloud Base Twice

By Martin Miller  —  Jan 28 - 06:20 AM
  • USD/JPY slips below cloud base again Tuesday, just like it did on Monday

  • Tuesday has seen a 108.76-109.10 range, according to prices on the EBS

  • On Monday FX traders ran into big bids at its 108.73 session low

  • Only a daily close under the cloud base at 108.81 will weaken nL1N29X06G

  • Big bout of selling after a long pause throughout most of Asia into Europe

  • Yen has risen in recent days due to the growing risk aversion nL4N29X1GM

  • Prev nL1N29X05P. EUR/JPY's 30/60-day correlations with USD/JPY are high

EBS Flow Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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