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Aug 19 - 02:55 AM

USD/JPY - Decline Extends As Dovish Fed Views Gain Ground

By Krishna K  —  Aug 18 - 11:40 PM
  • USD/JPY down 0.5% in Asia after early rally runs into sellers above 148.00

  • Declines rapidly from 148.05 day high on dovish comments from Fed officials

  • Weekend comments from Fed's Daly and Goolsbee point to imminent Fed easing

  • Powell speaks on economic outlook Fri, likely to endorse Sep rate cut

  • Japan July inflation data on Fri key, may show inflation likely picked up

  • May support another near-term BOJ hike as Japan's economy rebounds strongly

  • Near one-way slide to 146.68 low eventuates; initial support 146.45-50

  • Stronger support at 146.00-10; Resistance 147.40-50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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