• USD/JPY has crashed back to about where it started Asian trading

• From a 145.29 high post-Tokyo Gotobi fix and news of JGB buy-backs to 144.47

• 144.40 early Asia low in sight, could be pierced, 143.98 low yesterday next?

• Market on thin side into the Asia close, London/Europe opens

• Govt low-coupon JGB buy-backs but to be replaced by higher-coupon issues

• Net effect on JGBs outstanding likely will be minimal if plan effected

• Could even result in higher JGB yields on fresh issuance

• With BOJ hawkish too, not a recipe for JPY weakness at this time

• Market also wary of fresh US investments given political to-do in California

• Technically, USD/JPY back to top of 143.83-144.52 hourly Ichimoku cloud

• Also near base of 144.56-145.59 daily Ichimoku cloud

• Related comment , also , for more click on [FXBUZ]

USD/JPY daily:


USD/JPY hourly:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)