Intra-Day Market Moving News and Views USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
22 Feb 2017 02:12GMT

USD/JPY - Dlr moves broadly sideways in Tokyo trading after yesterday's rally from 113.09 (AUS) to 113.78 in New York morning due to broad-based USD strength and although price retreated to 113.41 after soft U.S. mfg and services PMIs, renewed buying quickly lifted price, dlr later climbed back to 113.73 in Australia on Wednesday.
However, despite mildly hawkish comments by Cleveland Fed President Mester (non-voter) in an interview with CNBC and Bloomberg TV this morning, price fell in Asian morning due to cross-buying in yen esp vs eur, suggesting further sideways swings below said Tuesday's high would continue.

Bids are noted at 113.45-40 and more below with stops below 113.20.
Offers are tipped at 113.70/80 with stops above there, more stops are touted above 114.00.

Market focus today is release of last Fed minutes at 19:00GMT (where most most of traders will not be round), however, pay attention to U.S. eco. data later in the day where Redbook retail sales will be released at 13:55GMT and then existing home sales at 15:00GMT. Fed Gov. Jerome Powell will speak at 18:00GMT.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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