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Yen Marginally Pressured In Early Trade

FOREX

The Yen is a touch pressured in early dealing, as USD/JPY pares some of Friday's losses. Elsewhere in G-10 ranges have been narrow and moves have had little follow through.

  • USD/JPY prints at ¥142.40/50, the pair is ~0.2% firmer this morning. Resistance comes in at ¥145.07, June 30 high and bull trigger. Support is at ¥142.11, the 20-Day EMA. The trade deficit in May was a touch wider than expected printing at ¥11.8tn.
  • Kiwi is also paring some of Friday's gains however a ~10 pip range is persisting thus and NZD/USD is holding above $0.62.
  • AUD sits a touch under the $0.67 handle. Resistance comes in at $0.6721 high from June 27. Support is at $0.6596 the low from June 29 and bear trigger.
  • Cross asset wise; BBDXY is marginally firmer and e-minis are little changed on Monday. US Tsy Yields are also little changed from opening levels.
  • Official PMI data from China headlines in Asia today, the release is due in just over one hour. CPI is expected to rise 0.2% Y/Y whilst PPI is forecasted to drop 5.0% Y/Y.
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