Intra-Day Market Moving News and Views -USD/JPY
|Intra-Day Market Moving News and Views
12 Dec 2018 03:30GMT
USD/JPY - 113.44.. Dlr resumed Mon's impressive rally to 113.47 in New York yesterday after Trump's upbeat comments in New York morning about contacts with China as the two countries discussed a road map for the next stage of their trade talks.
Despite dlr's retreat to 113.25 on profit taking in late New York trade, the pair met renewed buying at Tokyo open after more positive comments by Trump on US/China trade talks and hit an 8-day high of 113.52. Expect consolidation with upside bias for dlr to head to 113.70 n some stops above last week's high at 113.85 (Monday) are now in focus.
Therefore, trading dlr from long side is still recommended. Bids are noted at 113.30-25 and more below with stops below whilst offers are tipped at 113.60/70 with stops above 113.85.
U.S. will release important Nov core CPI, CPI, real weekly earnings in New York morning n later Federal budget.
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