Free Trial

Cushioned Below Y104.30 But Trades With a Heavy Feel

JPY
MNI (London)
  • Managed to grind its way down to Y104.24 but earlier report Japanese retail sale demand interest at and below Y104.30 suggested to have cushioned this initial move.
  • Rate currently trades around Y104.30.
  • Next tech support seen at Y104.13(61.8% Y103.18-105.68) ahead of the Sep21 low at Y104.00. Resistance remains into Y104.70.
  • Earlier report noted that IMM and leveraged have increased their short USD/JPY positions, with trade recommendations supporting this view.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.