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USD/JPY Slips Into Year-End

JPY

USD/JPY went offered Tuesday amid broad-based greenback sales into the end of the month, quarter and year. Focus fell on U.S. fiscal affairs, with optimism re: approval of the U.S. House for increasing stimulus checks tempered by Senate Majority Leader McConnell's objection to a motion to pass the bill unanimously.

  • It is the last Gotobi day of the year today, which may exert some pressure on the yen. Meanwhile, the Nikkei 225 futures point to a slightly lower open.
  • USD/JPY last sits -5 pips at Y103.53. A break under Dec 23 low of Y103.36 would open up Dec 17 low & bear trigger at Y102.88. Bulls eye Dec 16 high of Y103.92 for initial resistance and a break here would expose Dec 11 high of Y104.28.
  • The Japanese docket is empty during the remainder of this week.
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