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Jul 20 - 06:55 AM
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USD/JPY - Tight Ranges Persist As Grind Higher Stalls Ahead Of Cycle High
By The views — Jul 20 - 05:12 AM
• USD/JPY muted, holding within a tight 162.31-162.60 band
• Spot easing off intraday highs alongside softer oil in London trade
• Iran signals potential willingness to pursue negotiations with the U.S.
• Macro backdrop still USD/JPY supportive - subdued FX vol underpinning carry demand
• But upside still constrained by persistent intervention risk, particularly ahead of 162.84
• Resistance: 162.84 through to 163, support at 162.00-05
(21-day MA), 160.70
USDJPY daily chart
Justin McQueen is a Reuters market analyst. (The views expressed
are his own).
((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters