Intra-Day Market Moving News and Views -USD/JPY
|Intra-Day Market Moving News and Views
14 Sep 2018 03:00GMT
USD/JPY - 111.96.. Dlr pares initial gain after extending yesterday's rally above New York 111.99 high to a fresh 6-week peak of 112.08 at Tokyo open due to renewed yen-selling esp. vs usd, euro and sterling, however, profit taking quickly emerged and knocked price back down to 111.96, suggesting range trading is in store until European open.
As Thursday's break of previous daily res at 111.83 confirms dlr's rise from August's 7-week bottom at 109.78 has finally resumed, price is en route to re-test Aug's top at 112.15 and stops are above there are now in focus, therefore, trading the greenback from long side for further headway to 112.45/50 later today is recommended.
Bids are noted at 111.80-70 with stops below 111.65, offers are tipped at 112.10/15 with stops above there.
The U.S. will release a slew of eco. data starting with August retail sales, import and export prices, industrial prod., capacity utilization, mfg output, bus. inventories and last but not least University of Michigan consumer confidence, suggesting it would be a lively trading session in New York morning.
Also we have Chicago Fed President Evans speaking at 13:00GMT.
T.G.I.F.
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