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Dec 21 - 02:55 AM

USD/JPY - Propped By Stock Rebound, Key Tech Region

By Martin Miller  —  Dec 21 - 02:29 AM
  • Nikkei ends 2% higher on bargain-buying, led by tech shares. Props USD/JPY

  • Risk appetite usually sees funds flow out of safe-haven Japanese yen

  • USD/JPY has seen a 113.56-77 range on Tuesday, according to EBS prices

  • There is talk of decent buying interest circa 113.30

  • USD/JPY's downside limited by cloud, now spanning 111.98-113.79, this month

  • Japanese exporter offers will likely limit USD/JPY's upside in the near-term

  • EUR/JPY's 30-day correlation with USD/JPY above +0.5: moving in lockstep

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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