Free Trial

FOREX: Significant Intra-Day JPY Swings Persist Amid Geo-Political Concerns

FOREX
  • The punchy swings for the Japanese yen continue as the latest round of headlines regarding middle east tensions/escalation weigh on equities and provide support to the JPY.
  • While most G10 currencies remain in positive territory against the Yen on Tuesday, we are well off session highs and EURJPY has printed 160.01 from the European session peak of 161.11 just a few hours ago. A cluster of resistance appears to be forming between 161.10/20, which will be monitored in coming sessions, as bearish technical conditions still dominate for the cross.
  • USDJPY has slipped back below 144.00, however, the USD index remains little changed on the session, with just US consumer confidence on the data calendar. Potential comments from hawkish Fed dissenter Bowman will be monitored, while BoC Gov. Macklem participates in a fireside chat.
132 words

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.
  • The punchy swings for the Japanese yen continue as the latest round of headlines regarding middle east tensions/escalation weigh on equities and provide support to the JPY.
  • While most G10 currencies remain in positive territory against the Yen on Tuesday, we are well off session highs and EURJPY has printed 160.01 from the European session peak of 161.11 just a few hours ago. A cluster of resistance appears to be forming between 161.10/20, which will be monitored in coming sessions, as bearish technical conditions still dominate for the cross.
  • USDJPY has slipped back below 144.00, however, the USD index remains little changed on the session, with just US consumer confidence on the data calendar. Potential comments from hawkish Fed dissenter Bowman will be monitored, while BoC Gov. Macklem participates in a fireside chat.