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Free AccessUSDJPY has extended Friday's weakness,..........>
YEN: USDJPY has extended Friday's weakness, breaking firmly back into its
downtrend in line with the back up in JGB yields following rumors that the BOJ
may adjust its bond buying programme. The pair trades at 110.95, just above its
50DMA and testing its uptrend since May.
- As we pointed out on Friday in 'Yen Regional Resilience Here To Stay -
Potential For Bearish Reversal In EURJPY', the yen was looking attractive versus
the KRW and EUR, and the recent move has strengthen its case.
- EURJPY is pushing below its 100DMA, currently trading at 130.19 and also
threatening to break back into its broader downtrend. A break below 130.00 would
strengthen this case.
- KRWJPY has hit fresh July lows today, trading at 9.8240, with the next
downside target at the June low of 9.6670. A break of this level would test the
broader 12-month uptrend.
- AUDJPY remains well within its 6-month range but has broken below its 50 and
100DMAs today.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.