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Free Access*Oct24 Dollar-yen open Y113.44, range...>
YEN SUMMARY: *Oct24 Dollar-yen open Y113.44, range $113.25 to Y113.49
*Dollar-yen opened in Asia towards the lower side of yesterday's Y113.25 to
Y114.10, where after having the upper-hand, the dollar yielded ground late in
the NY session as US equities and rate yields slipped lower
*Initially trading sideways between Y113.36 and Y113.49 in early trade,
Tokyo-fix related supply pushed the dollar lower from around Y113.40 to Y113.25
*Post-fix, the rate moved back to Y112.40 and for the duration of the session
consolidated within a narrow Y112.28 to Y112.37 range
*Below Y113.25 support is located at Y113.16 (38.2% fib Y111.65-Y114.10), with
reported stops under Y113.10, while above Asia's Y113.49 high, hourly resistance
from Oct23 is found at Y113.78.
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Why MNI
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.