Free Trial

Sits Comfortably back below Y104.00

JPY
MNI (London)
  • USD/JPY picked up a bid tone into the Tokyo fix, traders pointing to Goto-bi day demand with some position adjustment also suggested ahead of the long Japan weekend.
  • USD/JPY edged to Y103.91 before it drifted back to Y103.75.
  • Rate holds back below Y104.00, the recovery Thursday only able to touch Y104.22 before reversing.
  • Suggestion that the recent RCEP trade agreement may have seen some investments diverted out of US and Europe into Japan which has helped to fuel current JPY strength.
  • USD/JPY support Y103.75/65, Y103.50. Resistance again seen into Y104.00, Y104.20/25.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@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.