USD/JPY 122.46 low near Kijun & 50% Fibo at 122.37 after Kuroda
Wednesday, June 10, 2015 12:57 PM UTC
- USD/JPY 122.46 low near Kijun & 50% Fibo at 122.37 after Kuroda's yen comments
- Econ FinMin Amari tried talking it back up, but recent spec longs traumatized
- 123.55 & 123.80 hourly Fibos & recent daily lows; 200-HMA by day's 124.63 high
- 1.6b of 122 expiries biggest nearby; 1-mo RR flip to long yen bias; volumes rise
- Yield spreads & tech bounce + Long-Term RM buyers underpin, but Fed forecast still key
- USD broadly softer as early '15-late '14 popular trades remain under pressure