JPY

Morgan Stanley: We expect a string Fed cuts through mid-2025; staying short USD/JPY

• USD/JPY is up 110 pips to 143.72 today

Japan data - August CPI Headline +3.0% y/y (vs. 3.0% expected)

• Later today we get the results of the Bank of Japan meeting, and Governor Ueda speaking

Morgan Stanley: Adjusts USD risk skew to neutral; Recommends long JPY

• Morgan Stanley cautious despite the Fed cut

USDJPY Technical Analysis – “Hawkish” 50 bps cut?

• The USDJPY pair bounced from the key 140.00 handle as the Fed delivered a less dovish than expected decision despite the 50 bps cut. What’s next?

USD/JPY erases gains for the day as post-Fed reaction weighs

• The secondary aftershock is starting to play out more closely to the initial kneejerk reaction yesterday

It's a huge day coming up in Asia on Friday - Japan CPI, PBOC rate setting, BOJ meeting

USD continues to surge higher in Asia trade. USD/JPY near 144.00.

• Skyrocketing!

USD/JPY moves above 143.00

• USD/JPY is up more than a big figure from its earlier Asian lows

Japan maintains economic assessment in latest monthly report

• The Japan government sees the economy as recovering at a moderate pace, although it remains pausing in part

Japan August data shows a big miss for both exports and imports - recap

• Casting doubt over economic recovery

Japan Machinery orders for July 2024: -0.1% m/m (expected +0.8%)

• A leading indicator of capital spending in the coming six to nine months

Japan August exports +5.6% y/y (expected +10.0%) & imports +2.3% y/y (expected +16.6%)

• Japan trade data for August 2024

USD/JPY climbs higher: US dollar bears feeling nervous ahead of the FOMC

• USD/JPY at the highs of the day

USDJPY breaks higher and through the 100 hour MA. Runs to swing area/200 hour MA.

• Swing area between 141.69 and 141.942. The 200 hour MA is at 142.02

USDJPY Technical Analysis – The USD stays under pressure on a larger cut chance

• The USDJPY pair has been under pressure ever since WSJ’s Timiraos published the article that increased the expectations for a 50 bps cut at tomorrow’s Fed decision. What’s next?