By Robert Fullem — Apr 16 - 02:50 PM
• USD/JPY tests range bottom as yields, shares fall following Fed Chair Powell
• Powell said, despite downside risks, the Fed can wait for greater clarity
• Settles in bottom half of narrow 142.03 to 143.36 EBS range
• No new developments from Japan, US trade negotiations
• Some short-covering risks on any positive developments in talks
• Series of lower highs weighs though losses limited to lower Bollinger
• Vols and option risk reversals remain steady
• Support: 142.03 days low; 141.65-68, Sept 20, Aug 5 lows; 140.92 Sept 16 low
• Resistance: 143.61 Tuesday high; 144.55-60 April 4 low and April 11 high
• BOJ's Junko Nakagawa set to speak on Thursday
Yen
(Robert Fullem is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters