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.

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AceTrader Team

AceTrader

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