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USD/JPY looks to have peaked ahead of 155 post-Trump win



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  • USD/JPY as high as 154.70 EBS overnight following Trump's election win

  • Market off some since, players hesitant to spark fresh Japan intervention?

  • US yields looked to have peaked for now too, off highs yesterday

  • US Treasury 2s to 4.312%, off since to @4.273%, 10s 4.479% to @4.428%

  • US bond vigilantes likely out in force now with Trump win nL1N3MD0RZ

  • Initial surprise of Trump win discounted, awaiting news of specific steps

  • Despite trepidation over angering Trump, Biden still in office, FX action?

  • 155.00 likely one line in sand for Japan's MOF? MOF-speak to be eyed closely

  • Resistance above 155.00 at 155.22 July 30 high, then 155.99 high July 24

  • Dip buying now likely way to go for specs, Japanese importers

  • Few large option expiries nearby today/tomorrow, today 153.00 $592 mln

  • Related comments nL1N3MD1GK, nL1N3MD0QD, nL1N3MD0PU, nL1N3MD0PP

  • And nL1N3MD0LN, also nL1N3MD1NQ, contrary MOF action view nL1N3MD0ZN

  • US markets nL1N3MD1H8, nL1N3MD1SJ, nL4N3MD28E, nL1N3MD021

  • On Trump win, policies nL1N3MD1VX, nL1N3LW07Q, nL6N3MD0R1

  • For more click on FXBUZ


USD/JPY: https://tmsnrt.rs/3UGPHDd

USD/JPY nearby option expiries into next week: https://tmsnrt.rs/3NYo8le

Yield on US Treasury 10s: https://tmsnrt.rs/4emjuIa

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

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