Free Trial

USD/JPY Hits Fresh Multi-Week Lows, bears Will Eye Break Of 130.00

JPY

USD/JPY hit fresh lows (130.42), levels that haven't been seen since the first half of Feb. The pair broke down through Monday's low of 130.54, but we sit slightly higher at the time of writing now (130.50/55). Broad USD weakness, although yen is outperforming most in the G10 space, except for NZD. The turn around in US yields is likely aiding the yen bid. The US 2yr is back to 3.87%, 10bps sub earlier session highs of 3.97%.

  • USD/JPY bears can target a break of 130.00, with 129.75 a 76.4% retracement of the Jan 16-Mar 8 rally. Beyond that is the Feb 2 low of 128.09.

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.