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

AceTrader Team AceTrader

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

USD/JPY - 108.84.. Dlr pared o/n losses in New York and climbed to 109.06 shortly after Tokyo open as benchmark U.S. Treasury yields rose again and briefly penetrated Tuesday's fresh 4-year highs of 3.0033% to 3.0089.

Intra-day retreat due to broad-based weakness in Asian equities following yesterday's selloff in the Dow (DJI fell 1.74% n closed a 24024) has spooked investors and dampened risk appetite, suggesting choppy range trading is the order or the day in Asia.
Having said that, if U.S. yields continue its recent upward path, the greenback will head higher broadly in Europe, so buying dlr on dips is till favoured.
Bids are noted at 108.70-60 with stops below 108.50.
Offers are tipped at 109.05/15 with stops above 109.20/25.

No key U.S. eco. data is due out today, so traders will need to take cue from intra-day move in U.S. yields as well as performance in major U.S stocks (so keep an eye on the Dow n S&P 500) later in the day.

Author

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.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold buyers hesitate amid holiday-thinned trading

Gold trades volatile, but within range, as US, China holidays-led thin trading exaggerates moves. The US Dollar extends range play into the US GDP week, with markets pricing at least two Fed rate cuts this year. Technically, Gold tests key support at $5,000; daily RSI still remains bullish.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.