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Free AccessUSD/JPY last deals at Y108.66, almost....>
DOLLAR-YEN: USD/JPY last deals at Y108.66, almost unch. on the day, after adding
52 pips Tuesday, as haven currencies were pressured by a positive day for global
equity benchmarks. Equity futures trade mixed at writing, with Japanese
contracts edging lower and their U.S. counterparts operating in the green.
- Initial bullish focus falls on the nearby Y108.77 level, which capped gains
yesterday, and a break above would draw attention to the Jan 9 high at Y109.00.
A breach of the figure would suggest the formation of a bullish reversal.
Conversely, bears keep an eye on yesterday's low at Y108.14, followed by
Y108.00, which represents the option related support.
- Japanese PPI & core machine orders are due in half an hour, while national CPI
& industrial output will hit on Friday. Elsewhere, Thursday will see remarks
from BoJ's Kuroda & Amamiya, while BoJ Rinban ops will also attract interest.
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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.