Intra-Day Market Moving News and Views
21 Nov 2014 02:00GMT
USD/JPY - …... Dlr went through a roller coaster session on Thursday as despite an initial rally to a fresh 7-year peak at 118.98 shortly European open, selling interest located below 119.00 level knocked price lower ahead of NY open.
The greenback eventually fell to 117.74 in NY morning after release of worse-than-expected U.S. jobless claims and soft inflation data before rebounding to 118.32 due to upbeat U.S. existing home sales figures.
Dlr briefly climbed to 118.37 in Friday Tokyo morning and then tumbled to 117.45 on risk aversion due to intra-day fall in Nikkei (currently down 0.9% to 17144) and comments from Japan FinMin Aso (see our prev. MMN).
Although dlr's intra-day sell off below 117.74 support signals further choppy trading below yesterday's top at 118.98 would continue and selling on recovery is recommended, price may find support near 117.00 level as growing divergence of economic and monetary policy developments between the U.S. and Japan should continue to provide support to the pair.
Bids are noted 117.40-30 n then 117.10-00 with mixture of bids and stops emerging just below 117.00.
On the upside, offers fm various accounts are placed at 117.90/00, 118.20-30 and more near 118.50 level.
Friday will release U.K. PSNCR and Canada CPI.
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