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Test Below Friday Lows In USD/JPY, Back Sub 148.00

JPY

USD/JPY sits close to session lows, the pair last in the 147.85/90 region (lows at 147.78). This is around 0.15% stronger for the session in yen terms.

  • Levels wise, we are sub Friday session lows, but Thursday lows at 147.66 remain intact. We are still distance from key EMAs, with the 20 through to 100 day clustered in the 145.60/80 region. Ahead of that initial support moves up to 147.08, the Jan 17 low.
  • Yen gains have coincided with softer USD sentiment elsewhere, led by NZD and AUD, although there hasn't been much follow through.
  • US yields are down slightly from earlier highs, but overall moves are modest, 10yr to 4.11%, earlier highs were at 4.134%.
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