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Free AccessUSD/JPY trades a touch lower,............>
DOLLAR-YEN: USD/JPY trades a touch lower, currently at Y113.55, after it closed
virtually unchanged yesterday.
- The pair was largely driven by broader USD gyrations.
- Initial slip occurred under pressure from U.S. stocks underperforming
Wednesday & the Nikkei 225 staying in the red Thursday. However, the rate
bounced in sync with U.S. stocks after the opening of NY trade Thursday, with
risk-positive reports from the FT re: U.S-China trade matters aiding, although
the report was later played down by U.S. Trade Rep Lighthizer.
- Initial bullish focus falls on Y113.70, where the pair peaked yesterday. A
break above would open up the Nov 14 high at Y114.01. On the downside, bears
need a break below the 21-DMA/yesterday's low at Y113.11/10 before trying to
move below the Y113 handle.
- Attention falls on the BoJ 5-25+ Year Rinban ops today.
To read the full story
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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.