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Tops G10 Pile In Thin Thanksgiving Trade

JPY

USD/JPY slipped Thursday in limited Thanksgiving trade, as a modest sense of caution was evident across G10 FX space. The rate shed 20 pips, with JPY topping the G10 scoreboard.

  • At typing, USD/JPY trades flat at Y104.26, with bears looking for a dip through Nov 18 low of Y103.65. A breach of that figure would open up Nov 6/Mar 12 lows of Y103.18/09. Bulls see Nov 24 high of Y104.76 as their initial target, followed by the 50-EMA at Y104.87.
  • Tokyo CPI will be released at the bottom of the hour.
  • Next week, focus in Japan turns to flash industrial output & retail sales (Monday), as well as unemployment, capex, company profits/sales & final Jibun Bank M'fing PMI (Tuesday).
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