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

AceTrader Team AceTrader

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

Intra-Day Market Moving News and Views
23 Apr 2018 03:00GMT

USD/JPY - 107.78.. Dlr eased in Asian morning after rising marginally above Friday's near 2-month high of 107.86 (New York) to 107.89 at Tokyo open due to intra-day gain in U.S. Treasury yields (benchmark 10-year climbed above Friday's 2.9639% high to a fresh 4-year peak of 2.9695%), suggesting minor consolidation is in store ahead of European open before prospect of further gain as Friday's broad-based usd's strength should support the greenback.

Therefore, buying dlr on dips is the way to go today in anticipation of resumption of recent upmove.
Bids are noted at 107.70-50 area with stops below 07.45.
Offers are tipped at 107.85/90 with stops above 108.00.

Today is PMI day, U.S. will release Chicago Fed national activity index, then Markit mfg and services PMIs and existing home sales.

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AceTrader Team

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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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