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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCorrective Pullback Extends On Initial Rengo Wage Demands
EUR/JPY is through the 20-day EMA and trades as low as Y161.39.
- Next support at the 50-day EMA (Y161.00).
- The technical trend condition in EUR/JPY remains bullish, however, a corrective cycle is in play, suggesting potential for a move lower near-term.
- Initial wage demands from Japan’s Rengo union print at +5.85%, a 3-decade high.
- Wage talks are a key pillar of discussions surrounding a BoJ rate hike.
- Earlier, Japanese wage data topped exp., which supported the yen.
- Recent source reports from several news outlets (including MNI) have pointed to the potential for a March BoJ hike.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.