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GOLD

Test session high

OIL

WTI slips lower

CHINA

FX Reserves Decline To $3.188tr in March

CROSS ASSET

EUR pare gains

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DOLLAR-YEN
DOLLAR-YEN: USD/JPY last Y112.79, 10 pips higher on the day, with the rate
sticking to a 15-pip range thus far as broader risk sentiment struggles for
clear direction during Asia-Pacific trade.
- BoJ Governor Kuroda has pointed to the continued need for current levels of
monetary easing for a second day, using familiar language in the process. He has
also stressed that the BoJ's adjustments to YCC in July did not represent
stealth tapering.
- Bears keep an eye on the 100-DMA/yesterday's low at Y112.27/24 and a break
below that level would allow them to target the cloud base at Y112.17. On the
topside, bulls look for a break above the 50-DMA at Y113.07, which would shift
their focus to yesterday's highs of Y113.21.
- Focus next week turns to the latest BoJ Tankan survey and final GDP data out
of Japan.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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