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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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Remains Heavy


USD/JPY ebbed lower yesterday, as broader greenback sales applied pressure to the pair. It extended its losing streak to three consecutive days, probing the water below Aug 6 trough at Y105.30.

  • Japan's coronavirus situation remains closely watched, with officials concerned about upticks in serious cases in Tokyo and Osaka.
  • Former BoJ member Kazuo Momma told BBG that the BoJ should show more flexibility in ETF purchases or consider skipping them now.
  • USD/JPY trades at Y105.35, a touch below neutral levels. A move through the lower 1.0% 10-DMA envelope at Y105.05 would clear the way to the 76.4% retracement of the Jul 31 - Aug 13 rally at Y104.86. Bulls look for a rebound above Aug 17 high of Y106.68 would draw attention to Aug 13 high of Y107.05.
  • Japanese trade balance and core machine orders are due shortly. National CPI and flash Jibun Bank PMIs will be published on Friday.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |

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