ridethepig | USDJPY Market Commentary 2019.11.26
Updated
Here we are trading USDJPY at the highs in the range with macro risk-off themes still remaining in play and unchanged despite how the local news is selling the extended bull market.
On the monetary side, BOJ clearly have their hands tied with the ECB/FED coordination. To put simply, any BoJ easing will follow ECB/FED which will be positive JPY via risk factors.
On the rate differential sides, UST and JGB continue the decline which still indicates lower USDJPY. Here I am tracking for the leg towards 100 and beyond as USD devaluation kicks in.
On the technical side, tracking 109.0x steel resistance with 107.0x support holding the key to unlocking the swing towards 100.xx.
Good luck all those holding JPY ... a very interesting environment as we enter into year-end.
On the monetary side, BOJ clearly have their hands tied with the ECB/FED coordination. To put simply, any BoJ easing will follow ECB/FED which will be positive JPY via risk factors.
On the rate differential sides, UST and JGB continue the decline which still indicates lower USDJPY. Here I am tracking for the leg towards 100 and beyond as USD devaluation kicks in.
On the technical side, tracking 109.0x steel resistance with 107.0x support holding the key to unlocking the swing towards 100.xx.
Good luck all those holding JPY ... a very interesting environment as we enter into year-end.
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