Free Trial

USD/JPY last seen at Y109.58, a touch....>

DOLLAR-YEN: USD/JPY last seen at Y109.58, a touch lower on the day.
- The rate climbed through yesterday's Asia-Pac session, as a stronger than exp.
CNY fix from the PBoC helped soothe nerves, even as trade war worries remained.
After topping out at Y109.83, the rate ebbed off of the level and staged a round
trip from its intraday high of Y109.93, tracking broader USD gyrations. A late
doors downtick prompted the pair to finish just 3 pips better off.
- Bulls look for a break above the 21-DMA, yesterday's high and the May 16 high,
which are clustered in the Y109.90-97 region. Bears need a slide through
Y109.46-48, which limited losses on May 9, 10, 23 and yesterday. This would
allow them to target Y109.02, which represents the May 13 multi-month low.
- Today's economic docket in Japan is quite densely packed and features domestic
unemployment, Tokyo CPI, flash industrial output and retail sales. BoJ 5-25+
Year Rinban ops will also be watched.

To read the full story



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.