Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 20 May 2019 03:00GMT

USD/JPY - 110.26.. Despite dlr's initial retreat from Asian 110.03 high to 109.50 at New York open on Friday, the greenback caught a bid after release of stronger-than-expected U.S. data (U.S. consumer confidence jumped to a 15-year high - May index came in at 102.4 vs forecast of 97.5) which triggered broad-based usd buying, price rallied to 110.18 before easing.

The pair opened at 110.12 in NZ n then climbed to intra-day high of 110.32 in Asian morning on renewed yen-selling and ignored further news on U.S.-China trade tensions (see early updates for details).
Although Friday's close above 110.00 confirms recent decline has made a temp. low at last Monday's 3-month trough at 109.02, overbought condition is likely to prevent further sharp gain n may yield strong retreat later today in European trading as the safe-haven yen may well get another round of buying on more negative U.S.-China trade talk news.
Offers are tipped at 110.40/50 with stops above 110.70.
Bids are noted at 110.00-109.90 with stops below 109.80 n more below 109.50.

Monday's U.S. eco. calendar is very light with Chicago Fed National Activity index being the only data due out at 12:30GMT. Pay attention to speech by Philly Fed President Harker at 13:30GMT. Also New York Fed's Williams n Fed Board Governor Clarida will participate in 2-hour "Fed Listens" Round table in New York at 17:00GMT.