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BRENT TECHS

(Q1) Bull Trend Extends

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has eased off a tad and remains limited, last trades -15
pips at Y109.69. Little in the way of reaction seen upon the release of in-line
Japanese trade balance, underpinned by worse than expected imports and exports.
- The pair round tripped from Y110.10 yesterday. It pushed higher as a press
conference with China's National Health Commission soothed the nerves somewhat,
but then sold off as concerns over the coronavirus situation resurfaced.
- A fall below the Jan 13 trough at Y109.45 would reassure bears, placing the
50-DMA at Y109.18 in sight. Bulls look for a firm rebound above the Y110.00
mark, which already gave way earlier this month. A break here would turn the
focus to the Jan 17 YtD high of Y110.29.
- Flash Jibun Bank m'fing PMI & minutes from the BoJ's December monetary policy
meetings are due on Friday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com