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

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
10 Dec 2018 03:30GMT

USD/JPY - 112.28.. Despite initial narrowly trading in New Zealand, the pair fell on safe-haven yen buying due to renewed weakness in U.S. stock futures n price dropped to 112.24 on intra-day broad-based fall in Asian stocks (N225 currently down 2.21% at 211968 and HSI down 1.67% n Shanghai composite down 0.71%).

Intra-day weakness n then re-test of Thursday's 1-month low at 112.24 suggests recent decline would head to 111.92 after consolidation, however, loss of momentum would keep dlr above 111.63. Therefore, whilst selling on recovery is favoured, profit should be taken on subsequent fall.
Offers have been lowered to 112.40/50 with stops above 112.75.
Some bids are noted at 112.25-20 with stops below there.

After Fri's market moving U.S. jobs data, the only eco. data due out in the U.S. is JOLTS job openings, therefore, traders will take cue from U.S. stock movements.

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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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