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Jan 19 - 06:55 AM

USD/JPY - Bulls Continue To Run Into Some Serious Resistance

By Martin Miller  —  Jan 19 - 04:54 AM
  • EBS flow data shows steady USD/JPY buying since the start of the week

  • USD/JPY stuck under a cloud, which spans 104.29-65 region nL1N2JU0H6

  • Japanese exporter offers are helping to limit the upside

  • USD/JPY sees a 103.66-104.08 range so far, according to EBS prices Tuesday

  • Meanwhile Japanese importer, investor and other bids trail down from 103.50

  • 103.50 is where the kijun line resides, bears need a break below it

  • USD/JPY, EUR/JPY relationship weak, 30-day log correlation well under +0.50

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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