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TDUX
Sep 13 - 09:55 PM

USD/JPY - JPY Holds Relatively Bid, USD/JPY Heavy Despite US CPI

By Haruya Ida  —  Sep 13 - 08:32 PM

• USD/JPY 153.38-79 EBS in Asia so far, heavy despite strong US CPI data

• Friday saw push down from 154.61 to 153.24, IMM CTA data may have helped

• IMM CTAs reversed positions from net shorts to net longs, 1st time since Feb

• US yields higher upping Fed rate hike bets this week but shrugged off

• Wider JGB-US Treasury rate differentials also shrugged off

• Higher crude oil prices also look to have been shrugged off

• Japanese exporters, other again sellers in early Asia trade

• Weak technicals, test of 152.89 low Sept 8, 152.28 trough February 12 eyed

• 152.10 low of year on January 27 and 152.00 also in speculator sights

• USD/JPY back below 153.79 100-HMA, 153.80-154.10 hourly Ichimoku cloud

• Underlying resistance at also descending 200-HMA up at 155.41

• In options, only significant expiries today 152.00 $503 mln, 154.00 $863 mln

• Related comments , , ,

• Also

• US markets , , , on crude

• On IMM CTAs , , US CPI

• On Middle East , , for more click on [FXBUZ]

USD/JPY daily:


USD/JPY 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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