Free Trial

The JPY has softened a touch in early...........>

YEN: The JPY has softened a touch in early Asia-Pacific trade after a buoyant
session for risk assets pressured the yen on Monday, as markets took solace from
a lack of escalation in the U.S.-China trade spat over the weekend.
- USD/JPY is testing Y111.00. Recent topside hesitation is a concern for bulls
with Y111.39-112.04, where the May highs are noted, remaining key. Bears now
need a close below the 200-DMA (Y110.12) to gain breathing room.
- EUR/JPY deals at Y130.45, after breaching the 100-DMA (Y130.26). Bulls now
need a close above Y130.34 to confirm a break of the 100-DMA and the bear
channel top. Bears need a close below the 55-DMA (Y129.37) to gain breathing
- AUD/JPY bulls have gained a degree breathing room with Monday's close above
the 55 & 100-DMAs shifting initial focus to Y83.63-85.00 where the 200-DMA
(Y84.70) is noted. Layers of support are following the pair higher. Bears now
need a close below the 21-DMA (Y81.93) to ease bullish pressure.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.