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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.
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Free AccessUSD/JPY Trades Above Y120
USD/JPY trades as high at Y120.07 into the Tokyo fix, printing above Y120.00 for the first time since early ’16 in the process, before backing off to trade below the figure once again. Note that several market participants have flagged broken barrier options at the Y120.00 level. BoJ policy divergence vs. wider developed market central banks, Japan’s notable reliance on energy imports (and the surge in related prices in recent weeks, resulting in diminished terms of trade for Japan) and the well-documented cheapening in U.S. Tsys (higher Tsy yields) have been the dominant inputs into price action for the cross during early ’22. Note that beyond the aforementioned early session high (Y120.07) bulls will target resistance in the form of the Feb 2 ’16 high (Y121.04).
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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.