Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JPY
Firmer-than-expected Japanese CPI data provided support for the JPY during Tokyo trade.
- USD/JPY’s technical picture remains unchanged, with a bullish flag pattern seemingly forming.
- The ’24 and Nov ’23 highs present technical resistance.
- Conversely the 20- & 50-day EMAs provide initial support.
- Expect yield differentials to drive matters in the sessions ahead, with Thursday’s U.S. PCE release providing the next tier 1 data release.
- Zooming out, our policy team has flagged April as the most likely timing re: a BoJ policy move.
- A recent insight piece from the team suggested that “the BoJ board's decision to exit negative rates policy at the April 25-26 meeting will hinge on services price inflation within the Tokyo CPI due to be published on the last day of the meeting,”
Fig. 1: USD/JPY
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok