Intraday Market Thoughts

USDJPY Breaks Monthly Moving Average & Updating Premium

by Ashraf Laidi
Jan 9, 2013 17:48

Forget the 200-week moving average. USDJPY is now creeping up above its 55-month moving average for the 1st time in 5 years as the yen sustains more damage across the board following the latest indications that BoJ will be forced to double its CPI target to 2.0% . The downward impact on the yen has already been prominent. But once JGB yields transition from making their usual short-lived into a full-fledged recovery, markets can talk about “this time is different” for Japanese equities and currency. Unfortunately, both of last night's new USDJPY Premium longs were unfilled missed by 10 and 30 pips respectively before the pair hit the projected targets of 88.70.  Access to these Premium trades is below. 


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