USDJPY Forecast: News, Views & Data to be released today



Intra-day Market Moving News and Views
26 Aug 2015
01:00GMT

USD/JPY - ..... Although price is currently trading roughly where it was 24 hours ago, the pair went through a roller-coaster session on Tuesday.

Despite intra-day 'knee-jerk rise to 120.40 shortly after European midday following news of rate cuts by PBOC, dlr was unable to hold on to intra-day gain and even through global stocks rallied on the move by the China central bank.
Dlr later tumbled to 118.60 near NY close as U.S. completely initial gain and fell (Dow closed down 204 points after initial 400-plus gain).

Dlr's intra-day rebound from 118.45 after Nikkei managed to stay in positive territory suggests consolidation is in store in Asia.
Initial bids are noted at 118.60-40 and more below with stops below 118.20, then 118.00.
On the upside, some offers are tipped at 119.40/50 and more above with some stops touted above 120.00.

Data to be released on Wednesday:

New Zealand trade balance, UK nationwide house prices, CBI distributive trades, and U.S. durable goods orders. Reserve Bank of Australia Governor Glenn Stevens will speak at the National Reform Summit, hosted by The Australian and the Australian Financial Review.  

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