Intra-Day Market Moving News and Views
19 Sep 2014
USD/JPY - ...... Dlr continues its recent winning streak and surged to a fresh 6-year peak of 109.45 shortly after Tokyo open as intra-day rally in the Nikkei (currently up by 235 points at 16302) boosted risk sentiment, leading to broad-baesd selling in the yen.
Although price has pared intra-day gain ahead of Tokyo lunch session, buying on dips is the way to go, however, it is advisable to take profit ahead of 110.00 as profit-taking below this 'rumoured' option barrier is expected ahead of the weekend.
Although no major U.S. data are due out today, traders may stand aside later on in NY session ahead of the September 20-21 G20 meeting in Cairns, Australia.
Bids are noted at 109.10-00, 108.90/85 and then 108.70-60 with stops emerging below 108.50.
On the upside, offers from various accounts are placed at 109.50-70 region and further out at 109.90-00.
Earlier Japan gov't said 'cut overall economic view, saying economy in moderate recovery while weakness seen in some areas; cuts view on private consumption, saying it is seen recently although pick-up trend remains intact.'
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