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Wave of JPY Buying Puts USD/JPY at Fresh Lows Pre-NY

JPY
  • Wave of JPY buying headed in toward the US open, with USD/JPY extending the slip off the overnight high to close to 50 pips. USD/JPY now trading at the day's lows of 114.25 and still edging lower.
  • First support undercuts at the Oct15 lows of 113.65, but yesterday's lows of 113.88 may also steady any further fall.
  • Decent pick-up in JPY futures activity on the downtick, with around 1,500 contracts changing hands inside 60 seconds ($164mln notional)
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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