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USD/JPY last trades flat at Y111.48......>
DOLLAR-YEN: USD/JPY last trades flat at Y111.48 after falling 22 pips Friday.
- In the Asia-Pac session on Friday, the rate had initially edged higher before
ebbing off of best levels, as the latest BoJ MonPol decision lacked notable
dovish surprises. JPY then drew support from risk-off flows, as TASS reported
that North Korea is mulling the suspension of denuclearisation talks with the
U.S.
- USD/JPY posted a leg lower around European noon, as weaker than expected U.S.
Empire manufacturing data and industrial output weighed on the greenback.
- The nearby 200-HMA & 200-DMA at Y111.44 provides the initial layer of support.
Below here opens the 100-DMA at Y111.31. On the topside, bulls look to Y111.90,
which capped gains on Friday, followed by the upper Bollinger band (2%) at
Y112.12.
- Japanese trade balance comes out at 2350GMT/0850JST, ahead of the final
industrial output figures, due at 0430GMT/1530JST. Japanese highlights this week
also include national CPI and Nikkei m'fing PMI due Friday. Elsewhere, the BoJ
is set to release its January MonPol meeting minutes on Wednesday.
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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.