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Sep 15 - 09:55 PM

USD/JPY - Braces For Test Of 140.00 As An Eventful Week Looms

By Krishna K  —  Sep 15 - 08:00 PM
  • USD/JPY offered in Asia after closing down 0.6% on Fri, hit a near 9-mth low

  • Rising expectations of 50bps Fed cut this week, lower U.S. yields weigh

  • U.S. rate futures market price in 45% probability of a 50 bps cut on Sep 18

  • This is up sharply from about 15% early on Thursday, undermining USD

  • Fed, BOJ rate decisions key this week; markets in Japan closed Monday

  • BOJ to hike rates by year-end, say majority of analysts; no Sep change seen

  • Japan's PM hopeful Takaichi warns BOJ against raising rates

  • Support @ 140.49, 61.8% of 2023-2024 rally eroded; 140.27 is Dec 2023 low

  • Psychological support at 140.00; resistance 141.67-141.75, previous lows

  • Friday range 141.88-140.285, Asia Monday range 140.89-140.465

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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