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(M1) Bullish Focus

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(M1) New Multi-Month Highs

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: USD/JPY posted a leg lower after U.S. Senate passed an act aimed at
supporting Hong Hong protests, prompting risk-off and a move back into
safe-havens. Beijing voiced their annoyance and said that if the law passes it
will enact retaliations, though what that could entail. USD/JPY was pressed
through support at Y108.50 to Y108.36 but managed to settle back around Y108.50
through to the Europe open. Opening Europe trade took rate to Y108.57 then
dropped back to Y108.38, currently around Y108.40. USD/JPY remains the barometer
of risk. Support Y08.24, Y108.00, Y107.89. Resistance Y108.80/85.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com