• JPY crosses especially hit hard following weekend news of Trump tariffs
• Tariffs levied on Canada, Mexico and China, interesting but EUR hit hardest?
• EUR/JPY gapped down to open Asia at 159.90, plunges to 158.10 EBS thereafter
• Some bounce since with cross back up to 159.66 before steadying somewhat
• Conditions very thin and market likely to remain choppy
• 159.80 Ichimoku daily kijun resistance, 159.90-160.83 NY close Friday gap
• GBP/JPY 192.27 to 190.02 early Asia before bouncing to 191.66
• This cross capped by descending hourly Ichimoku cloud between 191.78-192.43
• Flat Ichimoku hourly kijun in area at 191.53, 55-HMA in cloud at 191.86
• Managing to hold above low of year at 189.26 on January 17
• AUD/JPY 96.30 to 94.80 EBS, lowest since 94.66 Sept 17 '24, remains heavy
• AUD heaviness linked to Australia-China trade ties, tariffs on China
• Support below 94.66 at 94.00, 93.84 low Sept 16 '24, 93.57 spike low Sept 11
• EUR/USD, GBP/USD and AUD/USD reactions to Trump news in Europe, US eyed
EUR/JPY:
GBP/JPY:
AUD/JPY:
(Haruya Ida is a Reuters market analyst. The views expressed are his own)