April 25, 2024 06:29 GMT
Fresh lows for the Yen
FOREX
- The Dollar might be showing in the red across all G10s, but the focus is squarely still on the Yen, the only Currency in the red against the Greenback in G10s.
- USDJPY has forced its way all the way to 155.74 overnight, with some shorts likely forced to cover, after the 155.00 mark was very well defended of late, on expectations of intervention risks.
- Next obvious level will be at 156.00, and above would see 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing.
- Another interesting chart is the AUDJPY, with further upside traction, the 2014 high of 102.85 could come into play.
- The Pound is set to test the June 2015 high and the highest print since 2008 (see chart) situated at 195.885.
- Most Market participants will look at 167.00 next for the EURJPY.
Chart source: MNI/Bloomberg.
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