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Firmer JPY Puts USD/JPY >300 Pips Off Weekly Highs

JPY
  • As noted below, JPY adding to recent gains on the back of the JiJi headlines - with USD/JPY now through overnight Asia-Pac lows to extend the losses off the weekly high to close to 320 pips. A close at current or lower levels would confirm a clean break of both the 50- and 100-dma supports and a print through 146.24 would fully reverse the NFP-inspired rally.
  • EUR/JPY pull back a touch shallower after the cross found support at the 50-dma (160.61 today) - highlighting that USD weakness is also playing a part here.

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