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JPY Marginally Softer In Early Trade

JPY

USD/JPY has added a handful of pips as trading got underway in Tokyo and last changes hands +8 pips at Y110.22. The uptick in USD/JPY has occurred as e-minis have edged higher in early trade.

  • Bulls look to take out Jul 5 high of Y111.19, before targeting Jul 2 high of Y111.66. Conversely, a fall through Jul 8 low of Y109.53 would open up Jun 7 low of Y109.19.
  • Chief Cabinet Secretary Kato told NHK Sunday that applications for Covid-19 vaccine passports will open on Jul 26. The certificates issued for people fully vaccinated against Covid-19 will be used for international travel, while discussions are being held on using them to regulate access to domestic services.
  • Japan's core machine orders & flash machine tool orders are due today, with final industrial output coming up Wednesday. On Friday, the BoJ will announce their monetary policy decision alongside the release of their outlook report.
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