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

Intra-Day Market Moving News and Views
11 Oct 2018 03:00GMT

USD/JPY - 112.30.. Despite yesterday's resumption of recent erratic decline to a 3-week trough of 111.84 in New York afternoon after U.S. stocks erased initial gain following soft U.S. CPI and fell again, the greenback pared intra-day losses and rebounded in Tokyo morning as Asian stocks opened with minor gains (though N225 is currently down 0.5% at 22462), suggesting range trading above 111.84 with mild upside bias would be seen.

However, outlook remains mildly bearish for recent decline to resume after intra-day consolidation is over, therefore, selling dlr again on further rise is still favoured. Bids are noted at 112.00-111.90 with stops below 111.80 whilst offers are tipped at 112.50/55 with stops above 112.85.

T.G.I.F. after a tumultous week, U.S. will release import n export prices n then University of Michigan consumer confidence. Also, we have Chicago Fed President Evans (non-voter) speaking at 13:30GMT n then Atlanta Fed's Bostic (voter) at 15:45GMT.

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