Intra-Day Market Moving News and Views
25 Nov 2014 01:37GMT
USD/JPY - 118.06... Despite dlr's brief rise above NY res at 118.48 to 118.57 ahead of Asian open at the beginning of release of BoJ meeting minutes, price retreated subsequently as the minutes showed 4 out of the 9 BoJ board members were opposed to conducting additional easy policy because they worried about side-effects after expanding an aggressive easing program.
Dlr's intra-day fall accelerated after comments from BoJ's Governor Kuroda and then tanked to 117.80 before recovering.
Although broad-day buying of yen in Tokyo morning suggests selling dlr/yen pair on recovery is recommended, investors can look to book profit on next intra-day fall as last Friday's bottom at 117.36 (reaction low from 119.98 top) is expected to hold ahead of the speech from BOJ deputy governor Nakaso at 04:00GMT, followed by Bank of Japan Governor Kuroda press conference at 04:45GMT.
Offers from various accounts are noted at 118.15/20 and then 118.30-40 with mixture of offers and stops located at 118.55-65.
On the downside, bids are placed at 117.70/65, 117.55/50 with stops emerging just below 117.30.
Tuesday will see the release of Japan's BoJ meeting minutes, New Zealand's RBNZ inflation expectation, German GDP, U.S. prelimary GDP, PCE prices and Redbook, Canada's retail sales and U.S. monthly home price and consumer confidence.
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