The USDJPY pair fell over 200 pips on Thursday, pulling further away from a 20-year high, as US Treasury yields pulled back sharply on speculation that inflation may be peaking. During today's session, the 10-year US Treasury note fell to 2.87% from its recent high of 3.20%.
Also last week's Tokyo CPI figures showed that inflation is rising at a fast pace and some investors believe that BoJ will need to take some actions in order to tame price pressures. Barclays analysts wrote today "We believe that the most asymmetric part of the latest yen depreciation is behind us," and "Peaking global inflation , increased MoF verbal intervention and the prospect of a BOJ policy change suggest risk is shifting to the downside for USD/JPY."
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เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือ
USDJPY after an impressive rally pulled back from its recent high at 131.20, which is the highest level since 2002. Pair is currently testing local support around 127.50 which is marked with a lower limit of the 1:1 structure. Should a break lower occur, the next target for sellers is located at 124.50 and coincides with 23.6% Fibonacci retracement of the last upward wave. Source: xStation5
