Free Trial

*Dec7 dollar-yen open Y112.29, range....>

YEN SUMMARY
YEN SUMMARY: *Dec7 dollar-yen open Y112.29, range Y112.22 to Y112.49
*Dollar-yen opened in Asia toward the middle of the Y111.99 to Y112.64 range
witnessed yesterday, where safe-haven flows amid souring risk-appetite
underpinned the yen.
*Dollar-yen edged higher from Y112.22 to Y112.49, with both UST yields and
Japanese equities supportive of the move.
*North Asia accounts reportedly added supply near to the high, the dollar eased
lower to Y112.35
*Dollar-yen then consolidated around Y112.40 for the balance of the session
*Resistance lies at Y112.54/67 marking the 50%/61.8% fib on Y113.09 to Y111.99
decline, while Asia's low of Y112.22 provides initial support
*Eur/Jpy encouraged by a firmer Nikkei moved higher from Y132.39 to Y132.74,
strong resistance is seen between Y132.98-133.07, the level marks daily cloud
top on the ichimoku's and 38.2% fib retracement on Y134.38-Y132.26 decline.
*German Industrial Production provides the initial event risk for the cross in
the session ahead, which also includes EU Q3 GDP.

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.