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

AceTrader Team AceTrader

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

USD/JPY - 113.03.. Dlr pares yesterday's impressive rally and retreats to 113.01 in Asian morning due partly to intra-day pullback in the usd vs other G7 following Monday's broad-based gain in New York.

Despite yesterday's initial re-test of last Thursday's 1-month trough at 112.24 on weakness in Asian stocks, renewed buying emerged n lifted the pair, price then climbed steadily on cross-selling in yen and later rallied to as high as 113.36 near New York close as the Dow rose 764 points after tumbling over 500 points initially. Dlr' intra-day retreat in Asia indicates range trading is in store but expected usd's strength suggests buying on dips is favoured.
Bids are noted at 113.05-10 with stops below 112.90 whilst offers are tipped at 113.25/35 with stops above 113.40/45.

On the data front, U.S. will release November PPI. core PPI n then Redbook sales.

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