Tokyo inflation printed higher than expected overnight with the YoY measure coming out at 2.2% versus 1.9% expected, a move lead by transport, household goods and clothing. The yen has traded with a bid tone since, a move aided by a slightly more hawkish Summary of Options for the March MPM. Auto tariffs which were the main driver of the mover higher in USDJPY yesterday remain a concern, but the rally stopped just ahead of the 151.30 resistance we highlighted here yesterday so wea are sticking with our modest core short stance in the pair for now. SHF had yet another strong day of JPY selling yesterday, and they have been the main drivers of the recent selloff so definitely watching out for them today.
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1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.