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Feb 19 - 05:55 AM

USD/JPY - Trading Circa The 150 Psychological Level

By Martin Miller  —  Feb 19 - 04:45 AM
  • FX traders should gear up for much bigger USD/JPY gains nL2N3F10OW

  • BOJ April hawkish policy tweak still eyed but maybe premature nL2N3F4075

  • USD/JPY has seen a 149.88-150.15 range, on Monday, EBS data shows

  • It continues to trade circa the 150 psychological level nL2N3F404Y

  • Spot bullish as trading persists above broken 149.17 Fibo nL2N3F40FH

  • 149.17 Fibo is a 76.4% retrace of the (Nov-Dec) 151.92-140.27 (EBS) drop

  • 30/60-day correlations between USD/JPY and EUR/JPY are both above +0.70

Source:
Refinitiv IFR Research/Market Commentary

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