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

Intra-Day Market Moving News and Views
09 Nov 2018 03:00GMT

USD/JPY - 113.89.. Despite yesterday's rally to a 1-month high of 114.09 in post-FOMC New York after hawkish Fed's guidance in the accompanied FOMC statement, the greenback falls in early Asian trading due to intra-day safe-haven yen buying on broad-based decline in Asian equities, suggesting choppy trading below 114.09 would be seen until European open.

Having said that, as Thursday's break of 113.852 (Wed) to 114.09 due to renewed broad-based usd's strength plus rising U.S. treasury yields suggests re-test of Oct's near 11-month peak at 114.55 is on the cards, one should buy the pair on pullback in anticipation of such a move.
Bids are noted at 113.80-70 with stops below 113.50.
Offers are tipped at 114.00/10 and more above with stops above 114.60.

On the eco. dat front, pay attention to release of U.S. PPI n core PPI, University of Michigan consumer confidence, wholesale inventories n wholesale trades. Fed officials are giving public speechs after the Federal Reserve blackout periods today, pls refer to our EI section for details.
 

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