Intra-Day Market Moving News and Views
02 Feb 2016 02:02GMT
USD/JPY - ...... Although the greenback dropped to session low at 120.67 in NY, weighed down by release of poor U.S. ISM manufacturing PMI, price rebounded to 121.17 in New York afternoon.
However, renewed selling there pressured the pair lower and dlr retreated to 120.82 ahead of Tokyo open and continues to remain under pressure in Tokyo morning as Nikkei-225 trades lower in early trade.
Since there is no major eco. data due today, traders are likely to continue trading based on their reaction to BoJ's surprise negative rate announcement.
Bids are now lowered to 120.70/80 and more below at 120.50/60 with stops building up below there whilst initial offers are noted at 121.40/50, suggesting buying on dips for a resumption of recent uptrend is still favored.
Data to be released on Tuesday:
Australia interest rate decision, Swiss retail sales, Germany unemployment rate, unemployment change, Italy unemployment rate, Euro zone unemployment rate, producer price index, U.S. Redbook and ISM New York index.
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