ANALYSIS
NQ100 Finds Support from PPIApr 14
BoJ's Foreign Exchange Intervention Was Not Sufficient
Yesterday, the Bank of Japan (BoJ) made a foreign exchange intervention for the first time since the 1998 Asian financial crisis against the high depreciation of the yen. Although the parity retreated a little due to the effects of this, it could not maintain its durability against the strong outlook in the US 10-year bond yields. On the other hand, with the dollar leading safe-haven purchases, the 143.65 resistance will be monitored closely in the USDJPY parity, which continues to defend its ascending channel movement. If it is passed above here permanently, 144.40 and 145.30 levels may come to the agenda again. In the downward movements that may be experienced, the 142.25 – 141.50 range can work as a support zone.
