USDJPYUS Dollar / Japanese Yen
159.57
+0.21%
SUPPORT:159.03158.48
RESISTANCE:160.11160.66
Past
What happened
USD/JPY ground 36 pips higher to 159.57, pressing the 159.70 cycle high again as US10Y at 4.48% kept the carry trade firmly bid. Tokyo CPI miss earlier capped the topside but didn't unwind positioning.
Why
Why it matters
The pair is the cleanest expression of 'high US yields + weak intervention threat' — MoF has yet to verbally escalate even with 160 handle in sight. PCE Friday is the only thing that resets the long-dollar/yen funding trade.
Watch
What to watch
Watch the 159.70 cycle high — a daily close above opens 160.50 quickly and forces an MoF response. Downside to 159.03 (ATR support). PCE Friday is the binary; below-consensus drags pair to 158.50.
HEADLINES
- Why a Plunging Dollar Is Missing Out on the Relief RallyBarrons.com
- How Markets Reacted to Trump's Iran Post, in ChartsThe Wall Street Journal
- The Dollar Isn’t Done. Why It’s Outshining Rivals Amid Iran Crisis.Barrons.com