Free Trial

USD/JPY has slipped 5 pips and last......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has slipped 5 pips and last sits at Y110.81 after finishing
22 pips higher Wednesday.
- The pair posted gains in yesterday's Asia-Pac session, after Japanese trade
data showed a wider than exp. Deficit, stemming from a larger than exp. decline
in exports, owing to a shrinking demand from China.
- The softer JPY lent support to the Nikkei 225 which finished 0.6% higher.
- Y111.00 capped the rate on Wednesday, with bears briefly pushing the pair
towards Y110.60 before the Fed minutes allowed the USD to recover against the
majority of its G10 peers, with the rate settling around current levels.
- The initial bullish target is provided by Y110.95, which capped gains
Wednesday, and a break above would bring the Feb 14 YTD high of Y111.13 into
play. Meanwhile, bears need a fall through the 100-HMA/200-HMA at Y10.60/58
before challenging the cloud Tenkan Sen, which is situated at T110.39.
- Japanese focus turns to Nikkei m'fing PMI due later today, with national CPI &
BoJ Rinban ops due Friday.

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.