Intra-Day Market Moving New and Views
29 Sep 2014
USD/JPY - ..... The greenback strengthen against the yen ahead of Europe after comments from Japan PM Abe (see our prev. MMN), price rose above last Friday's 6-year peak at 109.54 to 109.75 before retreating to 109.55 due to renewed broad-based weakness in dlr.
Offers at 109.60-70 are being absorbing but more are noted at 109.80/85 and ahead of 110.00 with stops emerging just above there.
On the downside, fresh bids are building up at 109.40-30 and 109.20-10 with mixture of bids and stops located just below 109.00.
Japan's PM Abe said a need to keep cautious watch on impact on economy from sales tax hike, higher fuel prices and adverse weather;
want to achieve summit with Chinese leader at early stage.'
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