USD/JPY heavy post-BOJ Ueda, more probes lower?
USD/JPY was on the back-foot yesterday, BOJ Gov Ueda reinforced hike view
BOJ data dependent but feels economic and price outlooks correct, on course
Gov Ueda also confirmed FX and impact on economy, prices important
USD/JPY 155.41 to 153.91 yesterday, Asia today 154.12-53, better offered
Low yesterday, 153.28 low Tuesday, 153.00 supports, daily Ichi tenkan 152.92
Resistance now from 154.57-155.32 hourly Ichi cloud, cloud to taper later
100, 200, 55-HMAs in hourly cloud at 154.73, 154.90, 154.95
Nearby option expiries today 153.00 $370 mln, 153.50 $451 mln
And 154.00 $1.2 bln, also between 154.90-155.10 total $801 mln
Japanese importer interest eyed sub-154.00, some exporters on rallies
Firm US rates supportive? Treasury 2s @4.345%, 10s @4.416%
JGB yields recently legging up too however, 10s to as high as 1.105%
Japan Oct CPI +2.3% y/y, tad higher than +2.2% eyed, supports BOJ hike case
Related comments nL1N3MS0Q3, nL1N3MS0BL, nL1N3MS09P, nL8N3MR1MS
And nL1N3MQ021, USD bull view nL1N3MS0C2, also nL1N3MS0ZK
On US data nL1N3MS0IB, BOJ nL1N3MS05S, Japan CPI nAZN2NUO0I
US markets nL1N3MS0T3, nL1N3MS114, nL4N3MS161, nL1N3MS02O
For more click on FXBUZ
USD/JPY: https://tmsnrt.rs/40XVQio
Yield on US Treasury 2s: https://tmsnrt.rs/48YdbK5
Yield on JGB 10s: https://tmsnrt.rs/3Z4k73J
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
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