Forex

USD/JPY not showing much response to the data, straddling 451


The data on wages and spending are here:

Both are disappointing.

—

Meanwhile USD/JPY popped 145 overnight but has slipped back just a little in morning trade here. Above 145.70 was where we had Japanese authorities intervene to support the yen a couple of weeks ago. Markets have been timid of 145 since. But, a retest of the earlier highs seems inevitable. On the daily chart we ain’t even that far away!



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Eamonn Sheridan
Eamonn Sheridan

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