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USD/JPY has managed a marginal fresh.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has managed a marginal fresh YTD high (Y113.49) in early
Asia-Pacific trade, with little activity around the final 10AM Tokyo fix of the
month/quarter.
- The JPY shrugged off firm domestic retail sales, labour market & Tokyo CPI
data, with industrial production missing exp.
- JPY was pressured by a largely firmer USD & uptick in risk appetite on
Thursday.
- From a technical perspective bulls are in control following yesterday's close
back above Y113.00 & the July 19 high, with new YTD highs established. The next
upside hurdle comes in at the Nov 2017 high (Y114.73). Bears target a break of
the Sep 20 low (Y112.04) to stabilise the situation.
- Participants now look to next week's BOJ Tankan survey & wage data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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