Free Trial

*Aug7 dollar-yen open Y110.73, range....>

YEN SUMMARY
YEN SUMMARY: *Aug7 dollar-yen open Y110.73, range Y110.65 to Y110.85
*Dollar-yen opened in Asia toward the upper side of Friday's Y109.85 to Y111.05
range, where upbeat US NFP's underpinned the dollar.
*Demand in Euro-yen from Japanese names pushed the dollar higher from around
Y110.70 to Y110.85 before fading
*Once that interest subsided, the dollar eased lower to Y110.65
*Traders noted option expiries today between Y110.75-80 ($1.74bn), that may act
to contain the near term range
*Hourly resistance lies at Y110.85, a break opens Y111.05 (Aug4 high),while
support is found at Y110.59/45 (38.2%/50 fib on Friday's Y109.85-Y111.05 range).
*German Industrial Production (0600GMT) provides the event risk for the session
ahead (cross-flow)

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.