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Slow Start To Friday Trade

JPY

USD/JPY wavered Thursday as participants weighed Omicron variant risks, Fed taper talk and difficulties for Chinese companies traded in the U.S. The rate crept higher in NY hours amid a decent Wall Street session, as dip buyers rushed to purchase U.S. equities.

  • The rate last deals at Y113.12, little changed on the day. Bulls look to a move through Nov 24 high of Nov 24 high of Y115.52, a nearby bull trigger. Conversely, a sell-off past Nov 30 low of Y112.53 would open up Sep 30 high of Y112.08, a recent breakout level.
  • Japan's Jibun Bank Services PMI was revised higher to 53.0 from the flash reading of 52.1, indicating a faster pace of expansion in November.
  • Coming up next week, we have Japanese earnings/spending data (Tuesday), Eco Watchers Survey, BoP current account balance & final GDP (Wednesday) as well as BSI Survey (Thursday).

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