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DOLLAR-YEN: USD/JPY last seen at Y111.12, a handful of pips lower on the day.
The pair touched session lows of Y110.88, as the Nikkei 225 slid into negative
territory in early trade, but the subsequent recovery in the benchmark Japanese
stock index and a positive start for Chinese equities applied pressure on the
yen in the second half of the session.
- Bears target the 21-DMA at Y111.03, ahead of the 100-WMA, situated at Y110.82.
Meanwhile, bulls need to clear the cloud Tenkan Sen at Y111.25 before
challenging Y111.34, which represents the 100-DMA.
- This week's Japanese docket is headlined by the BoJ MonPol decision, due on
Friday, with the BoJ expected to leave its MonPol settings unchanged. For our
preview see MNI Main Wire at 02:45 GMT 03/11, or contact us for full access.
- Elsewhere, Japanese focus turns to domestic PPI, core machine orders and BoJ
Rinban ops, all due Wednesday.