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USD/JPY trades 5 pips or so softer at....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY trades 5 pips or so softer at ~Y112.15 at writing. This
comes after the cross registered fresh YtD highs on Wednesday, adding 25 pips on
the day as USD strength finally managed to push the rate out of its recent
narrow range, with some focus on flows ahead of the elongated Golden Week
holiday in Japan, which ate through touted exporter supply.
- Beyond the YtD high of Y112.40, resistance is noted at Y112.44, which
represents the 50% retracement of the move from Y125.86-Y99.02, followed by
Y112.48, the upper 2% Bollinger Band. Meanwhile, initial support is located
between Y111.94-91 in the form of various hourly and weekly moving averages.
- The BoJ MonPol decision dominates the local docket today. Our preview can be
accessed via the following link:
- https://emedia.marketnews.com/BOJ_Preview_April_2019.pdf
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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