JPY Trading Outlook Archive

USD/JPY The shock and awe of the BOJ’s QQE2 on Friday carried over into the new week, despite, or perhaps partly because of, the Japanese holiday Monday. The mkt was caught paring its spec short yen trades the previous week and short gamma and trying… Read more

USD/JPY The big buyer of 1-wk 110s noted in this morning’s Briefing was onto something. USD/JPY surged to 109.47 today with some help from stories about aggressive GPIF reallocations in the NY afternoon, apparently linked to Nikkei. That move to new session highs came after… Read more

USD/JPY The calm before the FOMC storm in the NY afternoon saw USD/JPY hue closely to the sizeable 108 options expiries at the 10ET cut amid subdued pre-FOMC trading, but with a slightly USD bullish & JPY bearish bias. The USD’s broad post-FOMC rally sent… Read more

USD/JPY A soft US Durables report cut the legs out from under USD/JPY’s London session rebound to 108.17, but the 107.69 lows were attractive enough for macros and Japanese buyers given the fairly steady Tsy yields and the option hedging ahead of 1.3bln of 108… Read more

USD/JPY General USD softness, a bit of renewed equities selling, and slightly lower Tsy yields amid below f/c econ data du jour dragged USD/JPY below hourly Cloud support by the 107.73 o/n low after the 108 option expiry at 10ET. Light stop-loss selling was triggered… Read more

USD/JPY Financial market anxiety, the VIX for instance, might not be back down at sleepy lows seen over the summer, but they have retreated about two-thirds of the way from the recent peak toward the summer trough; a move that has been mimicked by the… Read more

USD/JPY Only the poor Kiwi couldn’t make ground on the yen today amid further unwinding of haven trades (yen sales) from earlier in the month. Japan’s PMI beat o/n set the tone for mostly upbeat data and re-risking, even though the US Markit PMI missed… Read more

USD/JPY Cross-currents affected the yen pairs today: USD strength and increased intraday derisking chief among them. A broadly stronger USD and some firming on the USD/JPY technical front gave that pair a lift to 107.38, a tick below Monday’s high that offers were placed by…. Read more

USD/JPY Most of the USD/JPY’s intraday fall from o/n highs came before 8:00 AM ET, with the dollar struggling against most currencies to start the week. The nearly 4% rebound in the N225 o/n left the yen weaker on almost all the major crosses and… Read more

USD/JPY The N225’s vast under-performance vs the S&P 500 has continued at week’s end, despite the rebound in USD-JPY yield spreads, which leaves the USD/JPY recovery on somewhat shaky ground. The inability to offer USD/JPY below 105, the then daily Cloud top, has allowed prices… Read more