By Randolph Donney — Oct 20 - 02:35 PM
USD/JPY was little changed after Friday's 150 EBS high was rebuffed
This was 4th straight week near, but without a close above, 150
Market threatened by return of MoF intervention to boost yen
Yen not getting much help from BoJ, vows to stay ultra-easy
Japan core inflation below 3% reported, overall 3.0% vs 3.2% last
BoJ again stepping in to tamp down rising JGB yields with loans
Fed no longer favored to hike rates again, but first cut pushed out
Key kijun support rose to 148.73 from Oct. 3's spike low at 147.30
With MoF and major resistance above 150, new longs look riskier
Assuming anything like prior 2023 uptrend corrections reoccur
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary