Intra-day Market Moving News and Views
31 Dec 2015 01:12GMT
USD/JPY - ...... The pair is moving in familiar range in subdued Asian trading as closure of Japanese financial market for Bank holiday today ensure the pair would continue to move sideways.
Despite yesterday's cross-inspired marginal break of previous 120.63 res to 120.65 in New York afternoon session, lack of follow-through buying quickly sent price lower and dlr ratcheted lower in Australian morning to 120.42.
Offers are noted at 120.60/70 with some stops touted above there, some bids are reported at 120.35 and more below with stops below 120.00
However, as mentioned in previous update, there is market chatter of scaled down buying interest from Japanese importer from 120.00-119.50. So if you must trade, then buy on dips towards 120.35 or sell on further rise to 120.65/70.
Data to be released on Thursday:
U.S. initial jobless claims, MBA mortgage approvals and Chicago PMI.
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