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USD/JPY test 133.50 Before Selling Interest Emerges


USD/JPY continues to climb, the pair close to 133.50, before selling interest emerged. The pair last (133.20/30). As noted earlier, the 50-day EMA comes in at 133.38, so we have tested above this level, with focus to be on whether the break can be sustained. Given Japan's fiscal year end comes today, the focus may be on whether today's firm momentum continues into next week, when April trading commences.

  • In the cross asset space, its fairly quiet for US yields, range bound around recent levels. US equity futures are firmly positive though, +0.30/0.40% higher. This has likely helped maintain yen weakness on a cross basis. Regional equities are mostly higher as well.
  • AUD/JPY is back to 89.50/60, while NZD/JPY is back to 83.60/70.

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