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Rally Stops Short of 50-dma

DOLLAR-YEN

JPY remains the weakest currency in G10, with pressure piling on haven FX as equities continue to crest at alltime highs. US equity futures are indicating another positive open on Wall Street Tuesday, with the new alltime high in the e-mini S&P printed today at 3,448.75.

Nonetheless, the USD/JPY rally has stopped short of the 50-DMA so far, which holds as first resistance at Y106.58. The 50-day EMA also crosses at Y106.51.

A break and close above here opens Y106.68 Aug 17 high and the bull trigger at Y107.05.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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