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Mar 04 - 10:55 PM

USD/JPY - Power Above 150, Short-Covering, Gotobi Fix Demand

By Haruya Ida  —  Mar 04 - 08:53 PM

• USD/JPY powers above 150.00 again, Asia 149.58 to 150.18 EBS so far

• Japanese importer Gotobi Tokyo fix demand, short-covering tipped

• Spot through descending hourly Ichimoku cloud between 149.70-95

• Also now clear of 200/100-HMAs at 149.69/82 below, ascending tenkan 149.43

• Firmer US yields a factor too, Treasury 2s @3.995%, 10s @4.262%

• Comments earlier too from BOJ Ueda suggesting hikes likely later than sooner

• JGB yields remain firm nevertheless, 2s @0.837%, 10s @1.444%

• Though Ichimoku cloud pierced to upside, questionable if more upside today

• Massive, $1.3 bln in option expiries today at 151.00 to help cap market

• Related comment , also , on Ueda-speak
USD/JPY hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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