Free Trial

Despite a minor retracement off..........>

DOLLAR-YEN
DOLLAR-YEN: Despite a minor retracement off six-month highs of Y112.80, USDJPY
has gained 1.8% on the week and is expected to confirm a bullish weekly close.
The Y113.00 area is reported to hold option-linked resistance, a break is likely
to accelerate the move toward Y113.26/27 (200-wma/61.8% Y118.66-104.56), ahead
of the YTD high at Y113.39. Looking at the seasonality charts, USDJPY is set to
buck the trend which has seen the pair fall in July, 7 of the last 9 years. The
MNI FX Technical Signal Monitor is currently generating a clean sweep of bullish
technical signals, further supporting the stronger USD theme. USDJPY last
Y112.50.

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.