USD/JPY on back foot, haven flows into JPY, lower US yields
Haven flows into JPY and lower US yields saw USD/JPY off to 145.16 EBS in NY
A bounce to 145.91 was followed by another push down, Asia so far 145.10-55
Market soft with risk still off, follows plunges on Wall St overnight
US Treasuries yields off too, up some from lows but still looking soft
Treasury 2s @3.865%, 10s @3.834%, JGB yields firm, 2s @0.372%, 10s @0.909%
Soft US data as much as haven flows bid up Tsys, Fed cut to be 25 or 50 bps?
Japanese importer buys again eyed into Tokyo fix, exporters on rallies
Nearby option expiries today 145.00 $987 mln, 145.75-85 $604 mln
Massive $1.7 bln in expiries just above between 146.25-35 today above too
Support still seen ahead of 145.00, in area of 200-HMA currently at 145.18
Stops from likely on 145.00 break however, 144.65 low Aug 30 next support
Related comments nL1N3KL0OR, nL1N3KL09R, nL1N3KL0E9, nL1N3KL095
Also nL1N3KL0QQ, on US data nL1N3KL0IR, Fed nL1N3KB04T
US markets nL1N3KL0SH, nL1N3KL10M, nL4N3KL0UD, nL1N3KL01L
For more click on FXBUZ
USD/JPY: https://tmsnrt.rs/3TeB6y6
USD/JPY nearby option expiries this week: https://tmsnrt.rs/3Xf78uY
Yield on US Treasury 10s: https://tmsnrt.rs/3MxrQBt
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
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