Free Trial

Modestly firmer risk appetite in early Asian....>

YEN: Modestly firmer risk appetite in early Asian dealing saw the JPY on the
back foot as USDJPY posted highs of 107.13, EURJPY touched 131.91 & AUDJPY
topped out at 84.12. The JPY has since recovered from worst levels & regained
the 106 handle in the USDJPY cross, moving to session lows as we headed in to
the Tokyo fix.
- From a technical perspective the picture remains much the same as late last
week, in that the recovery from Y105.50 stalled ahead of Y108.03-42 and that
retains focus on the Y105.50 support. Bears continue to look for a close below
Y105.50 to reconfirm focus on Y98.95-101.16. The Y108.03-42 resistance region
remains key. Bulls need a close above Y108.42 to confirm a break of the 21-DMA
and bear channel top, hinting at a correction to Y110.47 and above Y109.78 to
confirm. Correcting O/S daily studies remain a concern for bears.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.