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Published: 2024-04-29T02:43:32.000Z

USD/JPY flows:Longs taking advantage of Japan holiday

byCephas Kin Long Yung

FX Analyst
-

USD/JPY jumped two big figures after opening lower

Buyers taking advantage of Japanese holiday and lack of signal for intervention

USD/JPY buyers seems to be taking advantage of the Japanese holiday and has pushed the pair two figures higher to a session high of 160.24. There is no headlines nor economic release that triggered the move. Market participants seems to read Friday's BoJ meeting lack of commitment in defending the JPY as a green light to go straight ahead. 

While two big figures sees a lot, in reality those gains has been partially retraced and USD/JPY is up 0.63% at 159.28. 

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Topics
Foreign Exchange
FX DM
Flows
USD/JPY-Commentary

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