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USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

Steadies After Sharp Sell-Off

DOLLAR-YEN

USD/JPY sank yesterday, despite little to inspire a broader flight to safety. JPY outperformed all of its G10 peers but AUD. USD/JPY briefly showed below the Y106.00 mark and closed right at the round figure.

  • Monday saw Japanese Econ Min Nishimura note that there is no evidence that the coronavirus was becoming less virulent and the authorities are monitoring the situation in Okinawa.
  • BBG reported that the BoJ refused traded requests to work from home, citing cybersecurity concerns.
  • The rate sits at Y106.03, a few pips better off. A rally above Aug 13 high of Y107.05 before targeting the 100-DMA at Y107.19. Bears keep an eye on Aug 6 low of Y105.30, followed by Jul 31 low of Y104.19.
  • Japanese trade balance and core machine orders hit the wires on Tuesday, with national CPI & flash Jibun Bank PMIs coming up on Friday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com