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JPY crosses move lower on the back of a.........>

YEN: JPY crosses move lower on the back of a stronger than expected JP GDP
release, albeit with a deflator that operates just above flat, it was a slightly
delayed move, but has seen USD/JPY push back below Y111.00.
- USD/JPY last Y110.92, focus on the %%-DMA (Y110.73).
- EUR/JPY last Y127.86, below the Jun 28 high (Y127.92), with bears now focused
on the June 28 low (Y127.15) as the next notable downside target, although they
will have to negate the 61.8% retracement of the move from Y124.62 to Y131.99
(Y127.44) first.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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