Free Trial

USD/JPY has edged lower and last sits....>

DOLLAR-YEN: USD/JPY has edged lower and last sits at Y109.70, with Japanese
equities set to open higher. This comes after the rate added 52 pips & hit a
fresh 2019 high at Y109.89 on Friday. Worth mentioning the rate spiked almost 30
pips higher Friday as BBG reported that China is said to offer path to eliminate
U.S. trade imbalance. 
- Bulls initially look for retaking Friday's peak, which would allow them to
target the Dec 25 low (now resistance) at Y110.00. Conversely, bears look for a
fall through the 21-DMA at Y109.29 before attempting a move back below Friday's
low at Y109.06. 
- BoJ is widely expected to stay on hold, while delivering its MonPol decision
on Wednesday. Elsewhere, Japanese docket this week includes trade balance due
Wednesday, Nikkei m'fing PMI due Thursday & Tokyo CPI due Friday, as well as
usual BoJ Rinban ops.

To read the full story



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.