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Japanese CPI Takes Focus

DOLLAR-YEN

USD/JPY dipped in Thursday's London morning and retained losses through the rest of the day, as the greenback lost ground while global equity markets struggled. The in-line stand-pat monetary policy decision from the BoJ was largely shrugged off.

  • The Nikkei and Asahi published approval ratings for Yoshihide Suga's Cabinet, with support seen at 74% and 65% respectively.
  • USD/JPY trades at Y104.72, little changed on the day. Bears would be pleased by losses past yesterday's low of Y104.53, which would bring Jul 31 low of Y104.19 into focus. On the flip side, a rally above Sep 16 high of Y105.44 would open up the 20-EMA at Y105.70.
  • Japanese CPI for the month of Aug headlines today. Next week, focus turns to flash Jibun Bank PMIs (Wednesday) and BoJ Jul MonPol meeting minutes (Thursday).
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