Free Trial

USDJPY trades back above Y108.00,........>

DOLLAR-YEN
DOLLAR-YEN: USDJPY trades back above Y108.00, before meeting resistance from the
Asia high (Y108.09). The Y108.10/15 area has proved hard to overcome in recent
sessions with bulls targeting a break of the 100 & 200-hma's at Y108.19/30 to
extend the uptrend. The Jul 12 high is placed behind at Y108.61, ahead of the
55-dma at Y108.90.
- Focus on US Retail Sales & Industrial Production today at 1230GMT/1315GMT.
Retail sales are forecast to rise 0.2% in June after a 0.5% increase in May. Not
seasonally adjusted industry motor vehicle sales slowed in June, while AAA
reported that gasoline prices slipped in mid-May from one month earlier after
four straight gains. Retail sales are expected to also rise 0.2% excluding motor
vehicles after a 0.5% increase in May. Industrial production is expected to rise
0.2% in June after a 0.4% increase in May. 

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.