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Dec 27 - 08:55 PM

USD/JPY - Choppy JPY Strength Early, Firmer UST Yields Underpin

By Andrew M Spencer  —  Dec 27 - 08:10 PM
  • Down 0.15% after falling 0.35% in early trading in thin year-end markets

  • Stronger-than-expected industrial production and retail sales data weighed

  • Improved data increases the chances that the BOJ may end ultra-loose policy

  • Treasury yields are firmer, 10yr +3bp to 3.811%, providing USD support

  • Charts show a downside bias as Tenkan and Kijun lines edge lower

  • 5, 10 & 21-day moving averages track south, as momentum studies slip

  • Wednesday's 142.83 high, then the 143.06 Tenkan line are first resistance

  • 140.95 December low is the initial significant support

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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