Free Trial

USD/JPY trades a touch lower on the......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY trades a touch lower on the day, last sits at Y108.40
- The impending BoJ MonPol decision provides the highlight of the local docket
today (our preview can be accessed at https://tinyurl.com/yyoovpm6). Following
that, focus will turn to national CPI, due on Friday.
- The pair edged higher in Wednesday's Asia-Pac trade, but remained locked
within a ~20 pip range ahead of the FOMC monetary policy decision. It spiked
higher as the greenback received a boost as fractures among FOMC members re: the
need for further easing came to the fore after U.S. central bankers delivered
the expected 25bps rate cut.
- A pullback below the 76.4% retracement of the Aug slide at Y108.17, cleared
yesterday, would open up Y108.02, which represents Tuesday's low & Jul 18 high.
Bulls look for a rally above the Y108.95-00 zone, which hosts the upper
Bollinger band (2%), upper 1.0% 10-DMA envelope, the high of Jul 7 & the high of
Jul 31 (coincides with the round figure).

To read the full story

Close

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.