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Sep 06 - 01:55 PM

USD/JPY - Dip Buyers Do What They Do But Caution May Be Warranted

By Christopher Romano  —  Sep 06 - 11:50 AM
  • USD/JPY hit a fresh 10-month high of 147.82 on EBS then fell sharply

  • Japan's vice minister of fin. for int'l affairs Masato Kanda sank USD/JPY

  • USD/JPY hit 147.02 on EBS, buyers emerged, pair near 147.60 at Europe close

  • Above estimate US ISM non-mfg PMI drove US rates US2YT=RR, US$ upward

  • USD/JPY's price action Wednesday helped generate some bearish signals

  • A daily hanging man candle formed & daily RSI diverged on the new high

  • Recently established USD/JPY long positions may face downside risks

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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