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Mar 16 - 03:48 PM

USD/JPY - Struggling With Risks Despite Fed Stability Maneuvers

By Randolph Donney  —  Mar 16 - 02:05 PM
  • USD/JPY heavy despite & due to Fed, BOJ risk rescue attempts nL1N2B90M9

  • Markets worried about credit risk nL1N2B94F4, asset deflation, yen gains

  • Friday's rebound was capped by March's highs near the 200-DMA

  • Today's 107.56 high capped by Jan's low and weekly cloud base at 107.65-66

  • If G7 fail in rescue attempts, multi-year H&S top nL1N2B94Y9 may unfold

  • March low and Nov 2016 lows at 101.18/19 & 2016' 99 low are crucial props

  • MOF and GPIF will be under pressure to defend those supports

Chart: Click here

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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