Free Trial

USD/JPY holds steady at Y109.57 after....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY holds steady at Y109.57 after adding 7 pips Wednesday. Price
action was somewhat subdued yesterday, with early weakness dissipating as the
greenback picked up on the back of firmer U.S. Tsy yields.
- The rate has been in a consolidation phase this week, struggling to take out
the nearby resistance at Y109.73, the high of Dec 2. A clearance of the level
would unlock potential for an attack at the May 30 high of Y109.93. Bears would
be pleased by a rout below the Y109.00 mark, which would clear the way to the
50-/200-DMAs at Y108.86/76.
- Today's highlight in Japan is the monetary policy decision from the BoJ
(please visit https://emedia.marketnews.com/BOJ_Preview_Dec_2019.pdf to access
our comprehensive preview). National CPI will be released tomorrow.

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.