USD/JPY volatile at 154.20 as tech selloff triggers yen safe-haven flows
USD/JPY has whipsawed between 153.80 and 154.60, currently trading at 154.20 as Nasdaq futures tumbled 1.2% in Asian hours, triggering safe-haven demand for yen. The tech sector rout, sparked by disappointing guidance from major semiconductor companies, has pushed investors toward traditional safe havens including Japanese yen and gold. Gold/USD climbed 0.6% to $2,048 while the S&P 500 futures fell 0.8%, highlighting the risk-off environment. The yen's gains were limited by persistent BoJ dovishness and wide interest rate differentials, with the 10-year US-Japan yield spread holding near 350 basis points. Technical indicators show USD/JPY trapped between 153.50 support and 154.80 resistance, with a break either way likely determining near-term direction. Traders remain cautious ahead of US PCE inflation data, which could reignite dollar strength if it surprises higher.
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