Trial now
BONDS

Day ahead

SOUTH AFRICA

Local Press Warns Transnet Could Become Next Eskom

SILVER TECHS

Eyeing Key Resistance

WTI TECHS

(Z1) Bulls Pause For Breath

Y109.00 Capping Recovery Efforts

JPY
  • Failure to advance recent recovery above Y109.00 (high May21 and May24) saw USD/JPY ease back to Y108.71 during Monday trade.
  • Goto-bi day Tokyo fix demand allowed rate to edge to Y108.86 in early Tokyo before rate reversed tack and eased to Y108.68.
  • Rate recovered to Y108.79 into Europe, currently trading around Y108.76.
  • Support seen between Y108.70/50, a break to expose stronger support around Y108.35/30. Resistance seen at Y109.00, a break of Y109.05/15 seen needed to boost recovery hopes, opening a move toward Y109.30 ahead of stronger interest at Y109.50.
  • MNI Techs: USDJPY is consolidating. The pair maintains a bullish outlook despite struggling to hold onto recent gains. A firm support has been defined at 108.34, May 7 low. Attention is on 109.96, Apr 9 high with potential for a climb above 110.00. Note that the recovery May 12 means trendline support drawn off the Jan 6 low remains intact. The trendline however remains under pressure. A break of 108.34 would signal a reversal.