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TDUX
Aug 07 - 01:55 AM

USD/JPY - Holds On 158 Into US Jobs, Crosses Mostly Hold Own

By Haruya Ida  —  Aug 06 - 11:58 PM

• USD/JPY holding on 158 into US NFP/jobs report, Asia 158.21-57 EBS

• Tracks away some from 158.55 high overnight however

• Weak US jobs report could see USD off, US-Iran stalemate however

• USD/JPY holding under 158.92-161.28 daily Ichi cloud, above 158.07 200-DMA

• In area of 158.39 hourly Ichi tenkan, kijun 158.08 below, cloud 157.58-64

• $765 mln option expiries today at 158.00 supportive too, 158.25-50 $623 mln

• Total $3.1 bln between 159.00-160.00 to help cap on any further rallies

• Threat of more solo/joint FX intervention too though expectations fading

• EUR/JPY better bid, Asia 182.48-68 EBS, best since intervention last week

• Above 182.47 hourly Ichimoku tenkan, kijun 182.30, cloud 181.12-83

• GBP/JPY buoyant, 212.78-213.25 but daily Ichimoku cloud 213.50-214.22 above

• Support from 212.74 hourly Ichimoku kijun, ascending 200-DMA at 211.86

• AUD/JPY 111.14-46, resistance at 111.50 high yesterday

• 110.69-111.16 hourly Ichimoku cloud cushion of sorts, supportive

• NZD/JPY 92.80-93.04, 93.07 high yesterday resistance, 100-DMA 93.14 above

• 82.50-93.21 daily cloud to cushion any falls, 92.63-72 hourly cloud too

• CHF/JPY outlier and tad heavy, 194.67-195.10, down from 195.60 yesterday

• At base of 194.23-82 hourly Ichimoku cloud, 100-HMA 194.63 below

• Japan data on April-May intervention, household spending taken in stride

• News too Japan weighs greater investment flexibility for GPIF

• Changes to GPIF, other Japanese institution investments seen yen supportive

• Also news Japan weighing changes to proprietary trading cap

• Related comment , also , on Japan data
USD/JPY hourly:


JGB-US Treasury 2-year interest rate differential - hourly:


Nikkei 225 hourly:


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

Source:
London Stock Exchange Group | Thomson Reuters

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