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Jan 23 - 05:55 PM

USD/JPY - Last Week's Highs Eyed On Rising Treasury-JGB Yield Spreads

By Randolph Donney  —  Jan 23 - 02:05 PM

  • USD/JPY is up by its 21-DMA and last week's highs on BoJ-Fed repricing

  • Rally toward those hurdles at 131.08/58 resumes the BoJ day rebound

  • JGB shorts taken on tighter BoJ hopes are now getting squeezed out

  • Drop in JGB yields and rise in Tsy yields is underpinning prices

  • A close above the 21-DMA would be first since Nov. 3's 148.26 finish

  • The 30-DMA, kijun and Jan. 12 high at 132.15/34/435 are major hurdles

  • Risks to BoJ, fiscal policy, econ if JGB yields rose rapidly nL1N34817C

  • Global PMI Tuesday's focus, but bigger event risks on Thursday and Friday

  • The 100-HMA at 129.17 on EBS is about to bullishly cross above the 200-HMA

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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