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Free AccessUSD/JPY has edged higher and last sits...>
DOLLAR-YEN: USD/JPY has edged higher and last sits at Y109.94, near the
psychological Y110.00 level, which was breached for the first time in 2019 on
Monday. Bulls now look for a move back above the figure, which would allow them
to attempt a retake of yesterday's YTD peak at Y110.16, followed by the Dec 31
high at Y110.48. Conversely, bears look to the Jan 30 high at Y109.74 and a
break below would bring yesterday's low at Y109.43 into view.
- The rate added 39 pips yesterday, as U.S. stocks advanced, driven higher by
tech shares, while the greenback led gains among the G10 currencies.
- Japanese trade balance (BoP basis) comes out Friday, while usual BoJ Rinban
ops will also attract interest.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.