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Mar 24 - 07:24 AM

USD/JPY - Foundations For A Bigger USD/JPY Rise Are Being Laid

By Jeremy Boulton  —  Mar 24 - 05:45 AM
  • Japan's GPIF to buy a lot more foreign bonds nL4N2BH2Y9

  • Japan's big companies underpinned USD/JPY during early stages crisis

  • Likely current resistance was partly due to paring of USD's they purchased

  • By restocking those supporting USD/JPY will be ready to repeat their action

  • The major shift in GPIF allocations will probably be adopted more widely

  • Seasonally April sees fresh funds invested abroad, in large sums

  • Levels where Japan inc support USD/JPY are likely to rise

  • Initial support @ daily Ichimoku cloud base 108.98-109.57 and 55-DMA 109.04

USDJPY: Click here

Refinitiv IFR Research/Market Commentary


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