Intra-Day Market Moving News and Views -USD/JPY
|Intra-Day Market Moving News and Views
19 Dec 2018 03:00GMT
USD/JPY - 112.45.. Despite initial brief break of previous December's 112.24 low to a 6-week trough of 112.19 after tripping stops below said sup, lack of follow-through selling quickly prompted broad-based unwinding of yen crosses and lifted price to 112.49, suggesting recent decline has made a temporary low there.
Having said that, falling US. Treasury yields where benchmark 10-year hovering around intra-day fresh 6-month low at 2.799% suggests selling dlr on corrective rebound is the way to go for weakness towards 111.38 (Oct low) as market is anticipating a dovish hike from the Fed later today.
Offers are tipped at 112.55/65 with stops above 112.90.
Some bids are noted at 112.20-00 with stops reported below there.
On the data front ahead of Fed's rate decision n Fed Chair J. Powell's post-FOMC presser, U.S. will release MBA mortgage applications, current account and exiting home sales.
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