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Yen Pressured In Asia

FOREX

The Yen is the weakest performer in the G-10 space at the margins. The BOJ left policy unchanged and left its forward guidance unchanged, arguably delivering a dovish hold.

  • USD/JPY prints at ¥148.15/20, the pair is ~0.4% firmer today. Technically the uptrend remains intact, resistance comes in at ¥148.60, 2.236 projection of the Jul 14-21-28 price swing.
  • AUD/USD is a touch firmer, the pair was supported ahead of $0.64 in early trade and last prints at $0.6425/30. The trend condition is unchanged and remains bearish. Support comes in at $0.6357, low from Sep 6 and bear trigger.
  • Kiwi is marginally firmer however narrow ranges have persisted for much of todays session. NZD/USD last prints at $0.5935/40.
  • Elsewhere in G-10; EUR and GBP are a touch lower. NOK is the strongest performer in the G-10 space however liquidity is generally poor in Asia.
  • Retail Sales from the UK provides the highlight in Europe today.
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