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Oct 10 - 04:55 PM

USD/JPY - Bulls To Test Japan's Intervention Threshold And 24-Year Highs

By Content Admin  —  Oct 10 - 02:10 PM
  • USD/JPY ground up toward September's 24-year peak at 145.90 on EBS

  • MoF intervened from 145.90, so some angst, but 1998's 147.64 looks key

  • Japanese intervention seen slowing not reversing the uptrend nL1N31B15C

  • Tsy mkt closed Monday, but Fed futures made new trend lows/yield high

  • Some carry-over from Fri's payrolls, then helped by Fed's Evans

  • Yields soaring in Europe also lifts Tsy yields, but not JGB yields

  • Two-year Tsy-JGB yield spreads likely at new 22-year highs on Tuesday

  • Next bullish measured objective is at 149.52 off August's base

  • Support nearby from 10-DMA and tenkan at 144.78/67

  • Would take intervention to test kijun, now at 142.97

  • Focus now in Thur's U.S. CPI, Fri's retail sales

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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