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Yen Pressured In Early Trade

FOREX

The Yen has ticked lower in early dealing on Tuesday, the BOJ Summary of Opinions has weighed a touch this morning as USD/JPY ticks higher alongside JGBs.

  • USD/JPY sits at ¥142.75/80 ~0.3% high today, the ¥143 handle remains intact. Trend conditions remain bearish, immediate support is at ¥141.87 (22 Dec low) and ¥140.97, low from Dec 14. Resistance comes in at ¥144.96, high from Dec 19.
  • The Antipodeans are little changed with narrow ranges observed thus far.
  • Elsewhere in G-10 the USD is a touch firmer however there has been little follow through on moves thus far.
  • Cross asset flows are muted and there have been no moves of note thus far.
  • November Industrial Profit from China crosses in just under one hour.

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