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Thread: Discuss the USD/JPY with a DailyFX Analyst
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Old 04-30-2007, 06:34 AM
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David Rodriguez David Rodriguez is offline
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USDJPY Looking top-heavy
The USDJPY is looking somewhat top-heavy at the moment, with the pair's inability to clear 119.80 leaving short term risks seemingly to the downside. This in and of itself is not compelling evidence for a retrace, but looking at bond yields reveals that the US 10-year vs. 10-year JGB yield spread has shrunken by 4 basis points overnight. This type of price action in bonds typically coincides with a drop in the USDJPY, which has yet to materialize.
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