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USD/JPY edges closer to 160
The USD/JPY is just now edging ever closer to the 160 handle. The high set a moment ago was at 159.98. The move higher in the dollar versus the Yen comes as the EUR/USD rebounds from an earlier low at 1.0685. Hence, the EUR/JPY has lifted off its earlier lows now too. The move higher in the USD comes as those US yields lift a little. The threat of the BOJ at, or above 160 is still very much in the foreground though and that needs to be remembered. Having said that, it seems like the market wants to try and flush them out right now. Incidentally, referring to the previous update, the DAX pretty much nailed that 50 day moving average and has since rejected it and fallen back below 18,300 and towards 18,275. It is hope that all the observations made on that today have helped the reader in some shape or form. The high seen was set at 18,363 in the cash index. The USD/JPY is currently trading at 159.96
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