Japan PM Suga visits Washington.. Rising Wedge inline
USD: What seems a clear run higher for US Treasury yields warns of USD/JPY retesting 111 this
week. Failure in the 110.20/50 area would be a surprise. The highlight of the week will be PM
Suga’s visit to Washington – the first leader hosted by President Biden. Presumably the
pandemic will top the list of discussion topics, though China will be keenly listening for any
remarks on Taiwan. The visit comes at a time when USD/JPY is far from any sensitive levels,
although Japanese exporters will clearly be a lot happier than their counterparts in the US.
And it would seem a little inappropriate for President Biden to try and talk USD/JPY lower.
JPY: The market is not paying much/any attention to Japanese data at the moment and instead
what US data means for US yields will be the driving theme this week.
Rising Wedge for a short term buy.. Goodluck
week. Failure in the 110.20/50 area would be a surprise. The highlight of the week will be PM
Suga’s visit to Washington – the first leader hosted by President Biden. Presumably the
pandemic will top the list of discussion topics, though China will be keenly listening for any
remarks on Taiwan. The visit comes at a time when USD/JPY is far from any sensitive levels,
although Japanese exporters will clearly be a lot happier than their counterparts in the US.
And it would seem a little inappropriate for President Biden to try and talk USD/JPY lower.
JPY: The market is not paying much/any attention to Japanese data at the moment and instead
what US data means for US yields will be the driving theme this week.
Rising Wedge for a short term buy.. Goodluck