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Mar 18 - 04:55 PM

USD/JPY - Uptrend Aided By Rates, But Some Tech Clearing To Do Still

By Randolph Donney  —  Mar 18 - 02:40 PM
  • Modest USD/JPY gains on the back of surging Tsy-JGB yield spreads

  • Prices working off Jan-Feb's breakneck rally and overbought pressures

  • Pair holding ahead of Fibo and June rebound high at 109.56/85 nL1N2LG1LO

  • Uptrend is intact while above last week's low and cleared Fibo at 108.28/23

  • This week's 109.365 EBS high well-defended for a fourth session

  • Fed letting Tsy curve steepen. BOJ may tweak YCC, tiers Friday nL4N2LG0YY

  • Yen bounced versus other currencies as risk got hit by rising yields

  • But dollar's been a better haven than yen in recent months

  • USD/JPY spec longs nearly gone last week, so less ready fuel for uptrend

For more click on FXBUZ

Chart Click here

Refinitiv IFR Research/Market Commentary


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