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Modestly Outperforms On Thursday, Q2 GDP On Tap

JPY

USD/JPY prints at ¥147.25/30, the pair is little changed from opening levels in early dealing on Friday.

  • The Yen modestly outperformed in the G-10 space yesterday after printing a fresh cycle low early in the Asian session. Markets are still heeding the verbal intervention of Matsuno and Kanda earlier this week. USD/JPY fell ~0.3%
  • Trend conditions for USD/JPY remain bullish, resistance comes in at ¥147.87 (yesterday's high) and ¥148.40 (high from 4 Nov 22). Support is seen at ¥145.86 (20-Day EMA).
  • On tap this morning we have the final read of Q2 GDP, July Trade Balance, August Bank Lending and July Cash Earnings
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