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Aug 05 - 07:55 AM

USD/JPY - Recovery Moves Have Stalled, Downside Still Vulnerable

By Martin Miller  —  Aug 05 - 06:07 AM
  • USD/JPY has seen a 109.47-109.75 range on Thursday, according EBS data

  • Spot was bought at the Tokyo fix, though offers ahead of 110 limited gains

  • On Wednesday spot closed above 109.42 Fibo and within the cloud supply

  • 109.42 Fibo is 23.6% of the 111.66-108.73 drop. Cloud spans 109.56-110.51

  • It's August: dollar could suffer against yen nL1N2P80BU

  • USD/JPY and EUR/JPY has positive relationship, 30-day correlation +0.71

Source:
Refinitiv IFR Research/Market Commentary

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