Free Trial

USD/JPY faced some selling pressure as...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY faced some selling pressure as Japanese markets reopened
after a public holiday. The yen gained amid demand for safe haven assets as
heightened uncertainty re: Brexit limited risk appetite. The initial sell-off
occurred when equities started trading in Tokyo and the rate failed to recoup
losses thereafter. It currently sits at Y108.38, 11 pips worse off.
- Bears target the Y108.00 psychological barrier, also the 38.2% retracement of
this month's rally. Conversely, topside attention is drawn to the Oct 17
multi-month high of Y108.94, with the 200-DMA at Y109.07 providing the next
layer of resistance above.
- The local docket features flash Jibun Bank m'fing PMI, due tomorrow.

To read the full story

Close

Why MNI

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.