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

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
15 Nov 2018 03:30GMT

USD/JPY - 113.57.. Dlr moves narrowly but with a soft bias in subdued Asian trading after falling in New York session from 114.00 to as low as 113.31.
Traders cited Wednesday's intra-day selloff on falling U.S. yields as well as renewed weakness in the Dow, then usd's broad-based decline in late New York trade due to intra-day jump in sterling on news that U.K. PM May had won Cabinet support for her draft Brexit deal.

Although dlr's decline from Monday's 5-week peak at 114.21 to 113.31 yesterday confirms recent upmove has made a temp. top there and consolidation with near term downside bias, oversold readings on hourly oscillators would keep price above 112.95 (last week's low - Wednesday) and bring rebound later today.
For now, offers are tipped at 113.75/85 with stop above 114.00.
Some bids are noted at 113.40-30 with some stops below there.

U.S. will release a slew of eco. data, pay attention to important Oct retail sales together with New York Fed mfg index, import n export prices, Philly Fed survey n weekly jobless claims at 13:30GMT, then bus. inventories. In addition, a number of Fed officials will be speaking in New York session (please refer to our EI section for details).

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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.

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