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USD/JPY as high as 149.98 during Federal US holiday



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  • USD/JPY to 149.98 in partial US holiday-affected thin trade, off some since

  • USD/JPY up on risk rally, perhaps some more paring of long JPY positions

  • IMM CTA yen longs down to 36,528 contracts as of Oct 8, prev week 56,772

  • Thinking some more JPY longs may have been pared post-data release

  • USD/JPY 149.68-83 EBS in Asia, down a bit from o/n highs but still buoyant

  • Closer to top of descending 145.02-151.81 daily Ichimoku cloud

  • Support from flat 149.56 hourly Ichi kijun, 55/100-HMAs 149.19/02 below

  • US Treasury market closed yesterday but long rates still seen firm

  • Fed Gov Waller said "more cautious" on rate cuts nS0N3L805Y, nS0N3L509P

  • Treasury 2s indicated @3.968%, 10s @4.098% in early Tokyo trading

  • PM Ishiba emphatic over weekend won't intervene in BOJ policy nL4N3LO035

  • Option expiries in area today 148.95-149.00 $723 mln, 149.70-95 $1.6 bln

  • 150.00 likely point of contention today, some barriers tipped at strike

  • Japanese exporters likely busy at Tokyo fix today, maybe post-fix too

  • Some importer demand eyed today too on another Gotobi fix

  • Related comments nL1N3LQ0OQ, nL1N3LQ0FB, nL1N3LP06X, nL1N3LQ07E

  • And nL6N3LQ04Q, nL1N3LL05Y, also nL1N3LQ0TH, on the BOJ nL1N3LN01Y

  • US markets that were open nL1N3LQ0Z8, nL4N3LQ0Y3, nL1N3LP07B

  • For more click on FXBUZ


USD/JPY: https://tmsnrt.rs/3Uxp1oz

USD/JPY nearby option expiries this week: https://tmsnrt.rs/3A0GezC

Yield on US Treasury 10s: https://tmsnrt.rs/402JYuU

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

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