Free Trial

USD/JPY last trades flat at Y111.74......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last trades flat at Y111.74 after closing 14 pips worse off
Monday. In Asia-Pacific hours, the yen was weighed on by a broader risk-on theme
stemming from reports of a breakthrough in Sino-U.S. trade talks. However, after
failing to break meaningfully above Y112.00, USD/JPY pulled back to intraday
lows of Y111.64 in London/NY hours, as risk appetite was capped by reports re:
the U.S. House Judiciary Committee, which opened the next stage of its
investigation into U.S. President Trump's misconduct and gorwing scepticism re:
the weekend trade reports.
- The Nikkei 225 opened ~0.6% lower today.
- Bears look for a break below the Dec 21 high of Y111.46, ahead of the 100-HMA
at Y111.41. Conversely, bulls need to clear the upper Bollinger band (2%) at
Y111.98 before challenging Friday's YTD high of Y112.08.
- Japanese focus this week turns to domestic GDP and BoP data (c/a balance &
trade balance) due Friday, as well as the usual BoJ Rinban ops. Elsewhere, BoJ's
Harada will speak on Wednesday.

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.