Free Trial

USD/JPY is steady at Y111.41, with.......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY is steady at Y111.41, with Japan observing the longest
post-WWII market closure, due to the extended Golden Week holidays. Japanese
markets will reopen on May 7.
- The rate closed 23 pips worse off yesterday, as softer than exp. Chinese PMI
data ignited some downside momentum in Asia-Pac trade, while broader greenback
weakness limited recovery attempts later in the day.
- Initial support noted at the 50-DMA/55-DMA, situated at Y111.36/29. A break
below would bring the cloud Kijun Sen at Y111.21 into view. Meanwhile, bulls
look for a move through the 200-DMA at Y111.51 towards Y111.61/69, which
represents the 100-DMA/yesterday's high.

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.