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May 21 - 05:55 AM

USD/JPY - Likely To Make Bigger Gains Despite Japan's Warning

By Martin Miller  —  May 21 - 04:40 AM
  • USD/JPY has seen a 156.03-55 range, on Tuesday, according to EBS data

  • Likely stops above 156.80, 157.00, but offers ahead nL1N3HO064

  • Long tail on last Thursday's candle highlights a downside rejection

  • Huge differential between Fed and BOJ still continues to underpin USD/JPY

  • Fin Min Suzuki: Japan closely monitoring weak yen & bond market nL1N3HO016

  • USD/JPY and EUR/JPY pairs maintain strong 30/60-day positive correlations

  • Euro usually makes gains against the yen in May nL1N3HA131

Source:
Refinitiv IFR Research/Market Commentary

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