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Nov 16 - 06:55 AM

USD/JPY - There Are Signs USD/JPY's Slump Might Be Over

By Martin Miller  —  Nov 16 - 05:35 AM
  • Dollar's recent volatile price action hints at a base nL1N32C0Q5

  • USD/JPY's multiple "bear traps" hint at near-term gains nL1N32C0LB

  • USD/JPY rose from 138.74 to 140.29 in Asia, before falling back

  • Japanese importers were good buyers into/after Tokyo fix, joined by US names

  • Recall USD/JPY found support at 137.67 on Tuesday, according to EBS prices

  • 30-day log correlation between USD/JPY and EUR/JPY above +0.50

  • The relationship between the two currency pairs has grown in recent sessions

Source:
Refinitiv IFR Research/Market Commentary

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