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Jun 14 - 04:55 PM

USD/JPY - Yen Longs Still Play Defense Into The Weekend

By Christopher Romano  —  Jun 14 - 01:40 PM
  • NY opened near 156.95 after 158.255 hit on EBS in overnight trade

  • Pair erased some of the overnight drop as US$ buying ebbed

  • Downbeat June U of Michigan helped to stem US$ buys, improve risk

  • EUR/JPY bounced off its 167.54 low & USD/CNH slid from its high

  • Equities erased most of their early fall & yields US2YT=RR firmed

  • USD/JPY neared 157.50 then neared 157.255 late, was up +0.14% late

  • Techs are mixed; daily RSI rising but inverted daily hammer formed

  • Falling monthly RSI, monthly long legged doji reinforce mixed techs

  • Investors to focus on US May retail sales, IP reports on Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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