MNI: Fed's Musalem Sees Inflation Risks Skewed To Upside

MNI: Fed's Bostic Sees 2 Cuts This Year But High Uncertainty

MNI BRIEF: Geoeconomic Fragmentation Now Reality - Makhlouf

MNI BRIEF: All Members Agree On Inflation Improvement -Banxico

MNI BRIEF: U.S. Should Consult Before Tariffs Imposed - MOFCOM

MNI PBOC WATCH: Easing Paused Ahead Of Two Sessions

EZ/UK Bond Supply Calendar: IT Piu; EU, BE Due Monday

US EIA: CRUDE OIL STOCKS EX SPR +4.63M TO 432.5M FEB 14 WK

US EIA:NAT GAS STORAGE -196 BCF TO 2,101 BCF FEB 14 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPY: USD/JPY Holding Above 152.00 On Higher US Yields, BoJ Takata Speaks Today

JPY
BulletMarketsForeign Exchange Bullets

USD/JPY is holding close to 152.10 in early Wednesday dealings. Dips towards 151.50 were supported in Tuesday US trade, while earlier highs from the Asia Pac session (152.22) remained intact. Yen lost around 0.40% for Tuesday's session, the 3rd worst performer in the G10 space, as broader USD sentiment recovered some ground. The BBDXY index last near 1289.9, up 0.20%. 

  • For USD/JPY technicals, key levels continue to hold. Recent weakness highlights that - for now - a key resistance around the 50-day EMA, at 154.24, remains intact. Key support and the bear trigger is unchanged at 150.93, the Feb 7 low.
  • Yen was weighed by higher core yields. US Tsy yields rose around 8bps towards the back end of the curve, with the 10yr back to 4.55%. This keeps us within recent ranges, but US-JP yield differentials have stabilized as a result, providing less downside impetus for USD/JPY.
  • US data was mixed, but recent Fed speak expressed less optimism than usual over the prospect of near-term rate cuts.
  • Locally today, we have the Jan trade data, with exports and imports expected to print firmer versus Dec outcomes. Core machine orders for Dec are also due to print.
  • Note as well we hear from BoJ board member Takata speaking in Miyagi.
  • In the option expiry space, note a Y154.00($3.0bln) expiry for NY cut on Feb 20. 
224 words

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.

USD/JPY is holding close to 152.10 in early Wednesday dealings. Dips towards 151.50 were supported in Tuesday US trade, while earlier highs from the Asia Pac session (152.22) remained intact. Yen lost around 0.40% for Tuesday's session, the 3rd worst performer in the G10 space, as broader USD sentiment recovered some ground. The BBDXY index last near 1289.9, up 0.20%. 

  • For USD/JPY technicals, key levels continue to hold. Recent weakness highlights that - for now - a key resistance around the 50-day EMA, at 154.24, remains intact. Key support and the bear trigger is unchanged at 150.93, the Feb 7 low.
  • Yen was weighed by higher core yields. US Tsy yields rose around 8bps towards the back end of the curve, with the 10yr back to 4.55%. This keeps us within recent ranges, but US-JP yield differentials have stabilized as a result, providing less downside impetus for USD/JPY.
  • US data was mixed, but recent Fed speak expressed less optimism than usual over the prospect of near-term rate cuts.
  • Locally today, we have the Jan trade data, with exports and imports expected to print firmer versus Dec outcomes. Core machine orders for Dec are also due to print.
  • Note as well we hear from BoJ board member Takata speaking in Miyagi.
  • In the option expiry space, note a Y154.00($3.0bln) expiry for NY cut on Feb 20.