The reported overnight range for USD/JPY remained below its 200-day average, while U.S. inflation and Japanese balance-of-payments data scheduled for Tuesday put the pair ahead of two releases.
FXStreet reported that a Société Générale note placed the pair between 157.97 and 158.53 yen per dollar overnight Monday. FXStreet also said the note saw little change in options-implied volatility; it did not name the analyst.
Sucden Financial's Nov. 9 analysis also put the 200-day average at 158.68 yen per dollar. It said USD/JPY finished the prior session near 158.48, up 0.43%, after trading close to 157.25 earlier in that session.
The readings cover separate periods: Sucden's 158.48 figure was a prior-session finish, while FXStreet's range covered overnight trading. At 158.53, the reported high was 0.15 yen below the average. LMAX Group's technical overview listed 156.96 as support and 159.04 as resistance, matching levels FXStreet attributed to Société Générale.
EconoTimes has previously covered an FXStreet report on Société Générale's dollar-rand analysis.
Sucden said U.S. two-year Treasury yields stood about 2.8 percentage points above Japanese equivalents, a spread that had supported yen-funded carry trades. Such trades use yen funding to seek higher yields elsewhere. The firm said support was weakening as a technology-led equity sell-off tightened U.S. financial conditions. It also said market-implied odds of a December Federal Reserve rate hike had fallen to about 70% from more than 80%.
The next scheduled indicators are both on Nov. 10. The U.S. Bureau of Labor Statistics (BLS) lists its October Consumer Price Index report for 8:30 a.m. ET, while Japan's Ministry of Finance lists preliminary September balance-of-payments data for that date.
