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USD/JPY Testing Move Back Above 50-Day MA (132.55)

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USD/JPY sits around session highs in the 132.60/65 region currently. After a volatile start, USD/JPY has found a firmer footing amid higher US yields, as risk appetite improves. The chart below overlays USD/JPY against the US 10yr government bond yield for the past month. Note the 50 day simple MA comes in at 132.55, so close to current spot levels. All the key EMAs sit above 134.00.

  • Yen is the weakest performer with the G10 space, unwinding some of Friday's outperformance. AUDJPY is over 1% higher, last near 89.20/25. Dips below 88.00 have been supported in this pair.
  • The BoJ summary of opinions from the March meeting expressed a variety of views but hasn't shed fresh light on the policy outlook.

Fig 1: USD/JPY & US 10yr Yield

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USD/JPY sits around session highs in the 132.60/65 region currently. After a volatile start, USD/JPY has found a firmer footing amid higher US yields, as risk appetite improves. The chart below overlays USD/JPY against the US 10yr government bond yield for the past month. Note the 50 day simple MA comes in at 132.55, so close to current spot levels. All the key EMAs sit above 134.00.

  • Yen is the weakest performer with the G10 space, unwinding some of Friday's outperformance. AUDJPY is over 1% higher, last near 89.20/25. Dips below 88.00 have been supported in this pair.
  • The BoJ summary of opinions from the March meeting expressed a variety of views but hasn't shed fresh light on the policy outlook.

Fig 1: USD/JPY & US 10yr Yield

Keep reading...Show less