Free Trial

Fresh USD/JPY demand emerges into the....>

DOLLAR-YEN
DOLLAR-YEN: Fresh USD/JPY demand emerges into the Tokyo fix. The rate spiked
higher, last deals at Y107.95, 24 pips better off. No evident catalyst in the
way of headlines has been noted.
- As a reminder, a source pointed to some EUR/JPY demand out of Tokyo this
morning, as we highlighted in an earlier bullet.
- The 21-DMA at Y107.99 remains the nearest bullish target. A break above the
level & the Y108.00 mark would open Y108.11, the 23.6% retracement of the
Y112.40-Y106.48 slide. The latter level capped gains on Jul 15, which adds to
its importance.

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.