Post-CPI Yentervention Risk
Beware of potential yentervention following US CPI data - regardless of what that data is, or what the initial market response is.
A quick heads-up - there is an asymmetric risk of JPY strength following US CPI data.
Either by markets, by yentervention, or both.
Markets
Here is a snapshot of the latest JPY futures-based support and resistance levels on USDJPY (JPY futures 0.0068 as USDJPY upside resistance, and JPY futures 0.0071 as USDJPY downside support) - those levels that I had identified have been indeed holding
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