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Jun 12 - 06:55 AM
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USD/JPY - Dip Buyers Shows The Overall Bias Remains On The Upside

By Martin Miller  —  Jun 12 - 05:32 AM

• Dollar steadies as traders question prospects for near-term ceasefire

• USD/JPY has seen a 159.95-160.38 range, on Friday, according to EBS data

• That after spot staged a partial recovery on Thursday after slumping to 159.51

• Thursday's losses induced dip buyers, above Thursday's 160.59 high would be bullish

• 30-day log correlation between USD/JPY, EUR/JPY crashes below +0.5 (relationship breaks down)

Daily Chart


Daily Chart


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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