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Mar 03 - 03:55 PM

USD/JPY - Stays Down By Key Support With UST Yields Despite Decent ISM Data

By Randolph Donney  —  Mar 03 - 01:45 PM

  • USD/JPY found support right at the 200-HMA for second time in 3 sessions

  • Fri's 135.81 low on EBS came before mostly bullish ISM services data

  • But the two-year low, albeit still high, prices paid weighed on rebound

  • With Fed hikes priced 90bp above Feb's lows, making new highs is harder

  • Same may be said of USD/JPY w 200-DMA rising toward key 137.45-46 hurdles

  • Uptrend remains intact but may need help from NFP & CPI on Mar. 10/14

  • BoJ meets on Mar. 10, but incoming leadership is on policy pause for now

  • Despite rising core Japanese inflation and BoJ's YCC contortions

  • Fed meeting is on March 21-22, with at least a 25bp hike expected

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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