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USD/JPY Lower Still

JPY

USD/JPY prints as low as Y132.99 after the previously flagged break below the 50-DMA saw the move lower in the pair accelerate. Note that weakness in Hong Kong and Chinese equities is aiding the move. The rate last deals ~115 pips or so lower on the session, around the Y133.10 mark, off of worst levels after failing to force a meaningful breach below Y133.00. Note that the shunt lower puts the $1.2bn of Y132.50 option expiries set to to roll off at today’s 10AM NY cut within notably closer proximity.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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