Intra-Day Market Moving News and Views -USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
20 Mar 2017 03:02GMT

USD/JPY - 112.54. Dlr languished near a fresh 2-week low of 112.48 in holiday-thinned trading in Asian morning as Japan's financial markets for closed for Vernal Equinox Day holiday.

The pair met renewed selling in New Zealand at 112.76 as lack of key developments at the end of G20 meeting on Saturday (G20 communique dropped pledge to avoid trade protectionism and to refrain from ccy intervention) prompted short-term specs to renew their broad-based USD selling, price fell below 112.57 after tripping some stops below there.

Although intra-day weakness suggests downside bias remains ahead of Euroepan open, so buying interest is touted at 112.35-20 area with stops below 112.00.
Offers are tipped at 112.75/85 with stops above 113.00.

The only U.S. eco. data due out is Chicago Fed National Activity index at 12:30GMT.
Last but not least, at 17:10GMT, Chicago Fed President Evans (voter) will be the first Fed official out of 9 policy makers who are scheduled to make public speeches this week.

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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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