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Market News Topics
July 09, 2018 23:52 GMT
The JPY has softened a touch in early...........>
YEN
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
room.
- 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 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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