USD/JPY Marching to 150 as Dollar Rises With Yields

Action Insight Mid-Day Report 10-19-22

USD/JPY Marching to 150 as Dollar Rises With Yields

Dollar rises broadly today, with help from bonds as 10-year yield tops 4.1% in pre-market. Canadian Dollar is also slightly firmer after CPI report. Other parts of the markets are mixed. Yen is dropping towards 150 with Dollar, but recovers elsewhere. Swiss Franc is weakening against both Euro and Sterling but loss is limited. Aussie and Kiwi turned softer as this week's recovery lost steam.

Technically, one focus is on Japan's intervention as USD/JPY approaches 150 handle, and on whether Dollar bears would finally jump in (which is unlikely). On the other hand, another focus in on USD/CHF's reaction to 1.0072 temporary top. Decisive break there will confirm up trend resumption, which could be a early signal of more Dollar buying elsewhere.

In Europe, at the time of writing, FTSE is down -0.26%. DAX is down -0.21%. CAC is down -0.02%. Germany 10-year yield is up 0.0597 at 2.353. Earlier in Asia, Nikkei rose 0.37%. Hong Kong HSI dropped -2.38%. China Shanghai SSE dropped -1.19%. Singapore Strait Times dropped -0.10%. Japan 10-year JGB yield dropped -0.0051 to 0.254.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 148.80; (P) 149.09; (R1) 149.52; More...

USD/JPY's rally continues today and intraday bias stays on the upside for 61.8% projection of 130.38 to 140.33 from 145.89 at 149.91. There Japan might intervene again to defend 150 psychological level. On the downside, break of 148.11 minor support will turn bias to the downside for pull back towards 145.89 resistance turned support. However, sustained trading above 150 could pave the way to 100% projection at 155.84 next.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

UK's Inflation Sluggish Slowdown

Pound Falls as Inflation Rises

USDJPY Aims for 150; Overbought Signals Strong

NZDUSD Rangebound after Bouncing Off 30-Month Low

Elliott Wave View: EURUSD Should Be Near To Pullback

Fed Kashkari's After-market Comments Help US Yields a Tad Higher

Fundamental Analysis | Technical Analysis
In-depth Reports
What's Next for Japan and the Yen?
What Will It Take for the US Dollar to Lose its Crown?
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:30 AUD Westpac Leading Index M/M Sep 0.00% -0.10% -0.20%
06:00 GBP CPI M/M Sep 0.50% 0.40% 0.50%
06:00 GBP CPI Y/Y Sep 10.10% 10.00% 9.90%
06:00 GBP Core CPI Y/Y Sep 6.50% 6.40% 6.30%
06:00 GBP RPI M/M Sep 0.70% 0.50% 0.60%
06:00 GBP RPI Y/Y Sep 12.60% 12.40% 12.30%
06:00 GBP PPI Input M/M Sep 0.40% -0.40% -1.20% -0.90%
06:00 GBP PPI Input Y/Y Sep 20.00% 17.20% 20.50% 20.90%
06:00 GBP PPI Output M/M Sep 0.20% 0.60% -0.10% 0.10%
06:00 GBP PPI Output Y/Y Sep 15.90% 15.00% 16.10% 16.40%
06:00 GBP PPI Core Output M/M Sep 0.70% 0.90% 0.30% 0.50%
06:00 GBP PPI Core Output Y/Y Sep 14.00% 12.70% 13.70% 13.90%
09:00 EUR Eurozone CPI M/M Sep F 9.90% 10.00% 10.00%
09:00 EUR Eurozone CPI Core Y/Y Sep F 4.80% 4.80% 4.80%
12:30 USD Building Permits Sep 1.56M 1.55M 1.54M
12:30 USD Housing Starts Sep 1.44M 1.46M 1.58M
12:30 CAD Raw Material Price Index Sep -3.20% -3.50% -4.20%
12:30 CAD Industrial Product Price M/M Sep 0.10% -0.90% -1.20%
12:30 CAD CPI M/M Sep 0.10% -0.10% -0.30%
12:30 CAD CPI Y/Y Sep 6.90% 6.80% 7.00%
12:30 CAD CPI Median Y/Y Sep 4.70% 4.80% 4.80%
12:30 CAD CPI Trimmed Y/Y Sep 5.20% 5.10% 5.20%
12:30 CAD CPI Common Y/Y Sep 6.00% 5.60% 5.70%
14:30 USD Crude Oil Inventories 2.5M 9.9M
18:00 USD Fed's Beige Book