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Yen Firms In Asia

FOREX

The Yen is the strongest performer in the G-10 space at the margins in Asia today. Mont-end Exporter demand for the Yen has added support in Asia today (BBG). Elsewhere risk off flows have escalated through the session, AUD and NZD are lower, as are US Equity Futures and Regional equities. BBDXY is flat and WTI is down ~1%.

  • USD/JPY is down ~0.3% and is testing the ¥149 handle as we approach the European open, support is at ¥147.15 low from Nov 21. Resistance comes in at ¥149.96, the 20-Day EMA.
  • AUD/USD is down ~0.2%, the pair briefly dealt above Friday's high before waning risk sentiment saw a fall of ~0.4% from peak to trough. Technically the trend needle points north, resistance comes in at Friday's high ($0.6591) then $0.6656, 61.8% retracement of Jul-Oct bear leg. Support is at $0.6475 the 20-Day EMA.
  • Kiwi is also softer however ranges have been narrow for the most part. NZD/USD is consolidating above the 200-Day EMA ($0.6062).
  • Elsewhere in G-10 NOK is ~0.2% firmer however liquidity is generally poor in Asia.
  • There is a thin docket in Europe today.
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