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USD/JPY retracement up over? Back in ascending Ichi cloud

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  • Month-end buy-backs, bounce in US yields helped, USD/JPY to 148.52

  • Tad lower than yesterday's high in Asia, 147.82-148.17 EBS so far

  • USD/JPY back in its ascending 147.61-149.40 daily Ichi cloud however

  • 100-DMA below at 147.18, support area on latest move down

  • Hourly Ichi cloud 147.28-75 support just ahead, 55-HMA 147.45 in cloud

  • Hefty option expiries in area today also, may help contain action

  • 147.00 $1.2 bln, 147.50 $570 mln, 147.70-75 $989 mln, 148.00 $802 mln

  • 148.50 $1.1 bln too, likely cap today, 146.50 presumed KOs out of focus

  • Despite bounce o/n, US yields still soggy, Tsy 2s @4.660%, 10s @4.311%

  • Fresh moves in US yields eyed but most eyeing quiet start to month

  • Related comments nL1N3CU0WV, nL1N3CV0ZA, nL1N3CV0Q8, nL1N3CN05Q

  • Also nL1N3CV2ZR, nL1N3CV2S5, on US data nL1N3CV1MH, nW1N3CV00E

  • US markets nL1N3CV2W4, nL1N3CV3PE, nL4N3CV3QC, nL1N3CV0BS

  • On Fed thinking nL1N3CV1RE, for more click on FXBUZ

USD/JPY: https://tmsnrt.rs/46yHCUl

USD/JPY nearby option expiries into next week: https://tmsnrt.rs/3Gqk6OK

Yield on US Treasury 2s: https://tmsnrt.rs/47Ap9rv

(Haruya Ida is a Reuters market analyst. The views expressed are his own)


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