Intra-Day Market Moving News and Views - USD/JPY
|Intra-Day Market Moving News and Views
Update Time: 13 Feb 2019 03:30GMT
USD/JPY - 110.60.. Despite usd's broad-based retreat in New York trading Tue on market's risk-on sentiment due to optimism over upcoming U.S./China trade talks (see early updates) together with rising U.S. yields and gain in the Dow, traders 'dumped' the safe-haven Japanese yen, leading to rally in eur/yen, gbp/yen and aud/yen (then nzd/yen today), the pair rebounded from 110.35 to 110.55 in New York trading.
D;r's intra-day rise to 110.64 in Asia as broad-based gains in Asian stocks (N225 currently up by 1.5% at 21195) boosted risk appetite and triggered another round of yen selling in Asian morning, suggesting upside bias remains for recent upmove to head to 110.82 retracement target (61.8% r of 114.55-104.79), however, weakening of upward momentum is expected to limit upside to 111.10/20.
Bids are noted at 110.45-35 with stops below 110.30 whilst offers are tipped at 110.60/65 with stops above 110.70/80.
On the U.S. data front, we have a slew of data due out starting with MBA mortgage applications, then January's MM and YY CPI n core CPI, real weekly earnings n Federal budget. We also have a number of key Fed officials speaking during N session (please refer to our EI section for details).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.