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Apr 14 - 03:55 PM

USD/JPY - Rebounds With Sharp Treasury Yield Rise Toward Key 126.32 Peak

By Randolph Donney  —  Apr 14 - 02:20 PM

  • USD/JPY rebounded from 125.095 to just above 126 post-ECB, US data

  • Treasury yields from 2 to 10-yrs up whopping 11.4 to 14.5 bps

  • US data mixed but inflationary; Fed signals 50bp hike nL2N2WC12W

  • Less hawkish than hoped ECB seen increasing need for Fed hikes

  • USD/JPY's 126.32 Wed and 20-yr peak hit 161.8% Fibo off 2021's base

  • A close above the 126.32 EBS peak and 2015's 125.86 high now awaited

  • Prices extremely O/B, but uptrend remains intact

  • Some angst re Japan's MOF inciting a sell-off, but talk only goes so far

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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