Free Trial

USD/JPY oscillates around neutral........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY oscillates around neutral levels and last changes hands at
Y107.74. As a recap, Japan has lifted its nationwide state of emergency on
Monday as officials judged that local coronavirus situation has stabilised. The
gov't will now focus on stimulating economic recovery, with the announcement of
a second extra budget coming up on Wednesday.
- Bulls continue to watch Apr 16 & 17/19 highs of Y108.08/09 and a break here is
needed to open up Apr 10 high of Y108.59. On the flip side, a drop below
Y107.30, where the rate bottomed out on May 19, would allow bears to target May
13 low of Y106.74.
- Looking ahead, Japan's unemployment, retail sales, flash industrial output &
housing starts are all due on Friday.

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.