USD/JPY: Pair consolidates beneath 200-day moving average – Societe Generale

USD/JPY remains in consolidation below its 200-day moving average (dma) at 158.68, with implied volatility holding steady, according to Societe Generale. Overnight trading spanned 157.97–158.53, while support stands at 156.96 and resistance at 159.04.

Can USD/JPY break above its key moving average?

"USD/JPY: 157.97 - 158.53 overnight range. Consolidation intact below 158.68 (200dma), implied vol steady. Support 156.96, resistance 159.04."

"Bank of Japan Governor Ueda: upside risks to inflation, haven’t heard complains on higher rates. Current account data tonight."

"The 10y UST yield successfully defended the 100dma at 4.80% and the question for any tactician is whether this week’s CPI print will endorse or cut short the return of duration buyers."

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

"Last month, hot CPI was roundly ignored as stocks tumbled on October 14th."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)