Free Trial

JPY: Yen Softens Into Tokyo Fix, End July Highs For USD/JPY Almost Reached

JPY

USD/JPY is continuing to track higher, the pair hitting fresh highs of 153.69 around the Tokyo fix. To recap, levels that could be in focus, 153.88, which is the July 31 high, the July 30th high was at 155.22. The USD/JPY RSI (14) is in overbought territory, but we haven't heard from Japan officials so far this morning. We were last near 153.50/55. 

  • Yen is comfortably the weakest G10 performer, off 0.80%, although all majors are now down against the USD. The BBDXY index sits at 1263.0, just off fresh multi month highs.
  • US yields remain up, but off session highs, the 2yr around 4.13%, the 10yr at 4.27%, as US election risks remain in focus. US-JP yield differentials continue to track higher. 
123 words

To read the full story

Close

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.

USD/JPY is continuing to track higher, the pair hitting fresh highs of 153.69 around the Tokyo fix. To recap, levels that could be in focus, 153.88, which is the July 31 high, the July 30th high was at 155.22. The USD/JPY RSI (14) is in overbought territory, but we haven't heard from Japan officials so far this morning. We were last near 153.50/55. 

  • Yen is comfortably the weakest G10 performer, off 0.80%, although all majors are now down against the USD. The BBDXY index sits at 1263.0, just off fresh multi month highs.
  • US yields remain up, but off session highs, the 2yr around 4.13%, the 10yr at 4.27%, as US election risks remain in focus. US-JP yield differentials continue to track higher.