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May 15 - 12:12 PM

USD/JPY - Support Holds In 106.70's, USD Haven Flows Trump Yen

By Paul Spirgel  —  May 14 - 02:10 PM
  • USD/JPY bid into NY close +0.11% at 107.15, NY range 107.21-106.86

  • Trump bump for USD/JPY clouded by claims miss nL1N2CW0T9

  • Support holds again in 106.70's, just ahead of daily cloud base- 106.71

  • Resistance at daily cloud top 107.30,, followed by 55-DMA by 107.59

  • Rising cloud top hints at further USD gains, USD tipped as pfd haven for now

  • Bulls in control abv May 6, 7 low by 106, below eyes early Mar lows 103/101

  • Traders beware: Today's close key for stumbling FX risk gauge nL1N2CW102


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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