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USD/JPY reclaimed the Y111.00 handle.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY reclaimed the Y111.00 handle on Thursday, against a backdrop
of broader USD strength, moving back into the ascending channel with gains
extending to Y111.25. The pair last deals at Y111.15.
- The break below the 21-DMA (Y111.43) and daily bull channel base off 2018 lows
continues to lack follow through with the pair again bouncing from ahead of the
55-DMA (Y110.55). Bulls look for a close above the July 23 high (Y111.54) to
gain breathing room and above hourly resistance from July 20 (Y111.90) to return
focus higher.
- JPY traders' focus remains firmly fixed on next week's BOJ MonPol decision,
with speculation mounting that the BOJ may adjust the upper bound of its 10-Year
JGB yield targeting mechanism.
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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