Intra-day news and views and data to be released today – USD/JPY
|Intra-Day Market Moving News and Views
USD/JPY - 107.19... Although the greenback edged lower to 106.79 in Asia yesterday, price rallied to 107.31 in New York morning on cross-selling in jpy before retreating to 107.15 on profit-taking. The pair then gained to 107.36 in Tokyo morning today on usd's broad-based strength before weakening again.
Usd's rally Friday's low at 106.65 to 107.36 today suggests decline from July's peak at 108.16 has ended there and consolidation with upside bias would be seen for gain to 107.78.
Bids are now seen at 107.00/10 and more below at 106.90/00 with stops building up below there whilst initial offers are noted at 107.90/00.
Pay attention to U.S. inflation data at 12:30GMT. Street forecasts for CPI mm and yy are 0.5% and 0.6% vs previous readings of -0.1% and 0.1% respectively.
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