FXstreet.com (Barcelona) - The Japanese yen continues to strengthen on Monday, spurred by positive results of the Tankan index series in the second quarter, beating not only expectations but also previous readings. In fact, the most important Large Manufacturing Outlook has improved to 1, vs. -3 expected and up from -3 in the previous quarter.
In the meantime, BoJ’s Yamaguchi has attained recent jitters in the global markets to the ongoing crisis in the euro zone, assessing at the same time that a stronger yen would hurt the domestic economy.
The cross is now losing 0.31% at 79.60 facing the next support at 79.35 ahead of 79.08 then 79.00 and finally 78.86
On the flip side, a break above 80.00 would expose 80.07 then 80.63 and 81.00
In the meantime, BoJ’s Yamaguchi has attained recent jitters in the global markets to the ongoing crisis in the euro zone, assessing at the same time that a stronger yen would hurt the domestic economy.
The cross is now losing 0.31% at 79.60 facing the next support at 79.35 ahead of 79.08 then 79.00 and finally 78.86
On the flip side, a break above 80.00 would expose 80.07 then 80.63 and 81.00
