Free Trial

Round Trip Complete

DOLLAR-YEN

The pair's round trip looks to be complete ahead of the US cash equity open as the pair prints new highs up at Y105.45, accelerating the move higher as the 100-hma and Jul 30 high are broken.

Throughout Asia-Pac hours, JPY was firmer across the board, pressuring USD/JPY to lows of Y104.19 before finding decent support ahead of the Mar 11 low of Y104.10 as sentiment seemed to catch up with the persistent strength of US equity futures.

Upside targets in the pair are now seen at the Jul28 high of Y105.69 and the Cloud Tenkan Sen level at Y105.78.

Move brings the pair into close proximity of a $1.2bln Y106.00 strike due to roll-off at today's cut.

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

To read the full story

Close

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.