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Oct 24 - 01:55 AM

USD/JPY - Slips As Yield Spreads Tightened - Soft Data

By Andrew M Spencer  —  Oct 23 - 11:40 PM
  • Trades off 0.25% as yield spreads tightened - 10yr UST slipped 2bp to 4.226%

  • Japan's Jibun Bank factory activity contracted for 4th month to 49 from 49.7

  • BOJ Gov Kazuo Ueda said achieving the 2% inflation target is "taking time"

  • The Japanese election at the weekend suggests the BOJ will remain cautious

  • Charts; 5, 10 & 21-day moving averages climb with the daily momentum studies

  • The sustained break of the Ichimoku cloud top this week is positive

  • The bullish setup targets a break of 153.41, 0.618% Fibo of July-Sept fall

  • 151.40 200 day moving average and the 151.01 Tenkan line are first supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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