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Sep 08 - 04:55 PM

USD/JPY - Supported By Hawkish Fed, ECB Hike Vs BoJ's Negative Rates, QE

By Content Admin  —  Sep 08 - 02:40 PM
  • USD/JPY up modestly as the overbought pair consolidates gains

  • BOJ only major CB, sans SNB, with negative rate; ECB hiked 75bp Thur

  • Fed is seen hiking 75bp for 3rd time at its Sept. 21 meeting

  • Heavily O/B RSIs from dailies to monthlies and 145 hurdles slow uptrend

  • Also unease about Japan's govt meeting, warning on FX risk nL4N30F15B

  • That with prices nearing levels of last yen-buying intervention

  • Treasury yields are the primary driver and await CPI, Sales data

  • Uptrend fully intact if O/B while above Wed's 142.75 EBS low

  • Breakout beyond 145 needed for a run at 1998's 147.64 peak

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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