Intra-day Market Moving News and Views (USD/JPY)
21 Dec 2015 1:01GMT
USD/JPY - ...... Dlr trades narrowly in early Asian morning on Monday following last Friday's intra-day sharp selloff from 123.57 (post-BOJ's rate decision's high) to as low as 121.06 in Europe.
Traders were perplexed by the intra-day 'wild' swings as market later came to the conclusion the BoJ effectively did not change its QQE programme after extending the maturity period of its bond purchases.
Despite present sideways move, Friday's 2% drop in the Dow and intra-day weakness in the Nikkie (currently down 366 points) should spur more yen-buying on risk aversion, so selling the greenback of recovery is favoured.
At present, offers are noted at 121.40/50 and more at 121.70/80 with some stops touted above 122.00. Some bids are reported at 121.10/00 with stops below there.
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