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Feb 15 - 03:55 PM

USD/JPY - Clears Key Hurdles On More US Data Beats, With 136.66 In Prospect

By Randolph Donney  —  Feb 15 - 01:45 PM

  • USD/JPY rose 0.87% and well above 23.6% Fibo and Cloud base by 133

  • US sales data smashed forecasts, adding to big beats list since non-farms

  • Prices boosted more by rising 10-yr Tsy-JGB ylds spreads than 2-yrs

  • That due to profit-taking on Tsy curve inversion trades pre-20-yr auction

  • Two-yr yld spreads are holding huge post-NFP gains just shy of 2022's peak

  • The next price hurdle is 2023's 134.78 high on EBS

  • But charts point to the 38.2% of Oct-Jan drop and 200-DMA at 136.66/88

  • Wed's low was the first above the 55-DMA since Nov. 9's 145.17 low

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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