Free Trial

USD/JPY had a brief look below...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY had a brief look below Friday's low in early trade, printing
at Y110.30, but last trades back around unchanged levels circa Y110.45. A
broader uptick in risk appetite has somewhat expectedly capped the yen.
- BOJ Governor Kuroda took to the wires in early dealing and maintained his
optimistic growth and inflation outlook for Japan's economy, while highlighting
that the most recent survey conducted by the Bank showed that business sentiment
was hit by rising costs and uncertainty over the impact of U.S. trade disputes
on global demand.
- Topside hesitation in the pair is a concern, with Y111.39-112.04 where the May
highs are noted remaining key. Bears now need a close below Y110.13 (200-DMA) to
gain breathing room and below Y109.90 (55-DMA) to confirm a break of Y110.27
(bull channel base off 2018 lows).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.