Free Trial

Opened in Asia at Y113.91 toward the.....>

DOLLAR-YEN: Opened in Asia at Y113.91 toward the upper side of yesterday's
Y113.25 to Y114.02 range, where firmer US rate yields and stronger global
equities placed the Yen on the defensive. US rate yields and regional equities
will continue to provide direction in Asia, Nikkei futures were last +0.40%. In
option space, there is a large expiry for today at Y114.00 ($2.14bn), that may
act to contain the near term range. Supply from Japanese exporters has been
reported between Y114.10-20, which fits in nicely with the technical picture,
key-resistance lies at Y114.33, the level marks the 61.8% fib retracement on
Y118.66 to Y107.32 decline, while hourly support is located in the

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.