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Nov 08 - 04:55 PM

USD/JPY - Settles Above Weekly Cloud Top

By Robert Fullem  —  Nov 08 - 03:00 PM
  • USD/JPY settles near midpoint of 152.14 to 153.365 trading range on EBS as long-term Treasury yields ease

  • Looks to close Friday just above its weekly cloud top of 152.41

  • Converging 21-DMA and 200-DMA at 151.68 offers strong support ahead of the Nov. 6 low of 151.30

  • Resistance includes a prior double-top near 153.88 and week's high of 154.715.

  • Government coalition negotiations over the weekend may impact pair on Monday before session of Parliament

  • BOJ to release Summary of Opinions for the Oct. meeting and Governor Ueda to speak on climate change Monday

  • US CPI and Fed speakers are also on next week's docket

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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