Trial now

Eyeing Key Resistance


Maintains A Bullish Tone

Unfazed By Weekend Developments


USD/JPY has meandered this morning, looking for fresh catalysts. Worrying signals re: Sino-U.S. tensions or the ongoing unrest in Belarus have failed to filter through into price action so far. The trades flat at Y106.60.

  • The FT reported that Japanese gov't off'ls made unsuccessful attempts to push Nissan and Honda merger talks.
  • Bulls need a breach of Aug 13 high, located at Y107.05. This would shift topside focus to the 100-DMA at Y107.21. On the downside, a dip through Aug 6 low of Y105.30 would open up Jul 31 low of Y104.19.
  • Japan releases preliminary GDP data and final industrial output figures later today. Looking further afield, trade balance and core machine orders hit the wires on Wednesday, while national CPI and flash Jibun Bank PMIs come out on Friday.
MNI London Bureau | +44 203-865-3806 |