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USDJPY Range Trading, Yen Gains Versus Euro

JPY

USDJPY continues to trade in a range between 144 and 145. It is currently around 144.46 after reaching a low of 144.20 during the NY session. It had reached a high of 144.71 earlier on Tuesday. The MoF is monitoring currency developments closely and is in touch with its counterparts overseas, especially in the US. The USD index is 0.1% higher.

  • There has been a resumption of the uptrend in USDJPY and the focus is on 145.66, a Fibonacci projection, and then 146.47. Key short-term support is at 142.04.
  • EURJPY trended lower on Tuesday and is currently around 157.18, as the euro underperformed the rest of the G10. The cross maintains a bullish tone and a price sequence of higher highs and higher lows. Focus is on 158.72 with support at 155.06.
  • AUDJPY reached a low of 96.08 following the RBA but traded higher to finish up 0.1% and is now around 96.68.
  • Today the final June Jibun Bank composite and services PMIs print.
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