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

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
Update Time: 22 Aug 2019 03:00GMT

USD/JPY - 106.45.. The pair continued to move broadly sideways on Wednesday in relatively narrow range of less than half a yen. Despite extending erratic rise from 106.17 (Tuesday) to 106.64 in New York afternoon after release of less dovish FOMC minutes which had lifted U.S. yields, failure to penetrate this res at Tokyo open today triggered broad-based yen buying and pushed price back down to 106.45.

Dlr's intra-day retreat suggests further choppy trading below this week's high at 106.69 (Monday) would continue with downside bias, however, price is likely to remain confined inside early broad range of 106.97-105.66 as market awaits key speech from Fed Chief J. Powell at Fed's annual global symposium at Jackson Hole tomorrow, traders are keeping their powder dry for this event.
For now, offers are tipped at 106.65/75 with stops above 107.00/10.
Bids are noted at 106.20-10 with stops below 106.00.

Ahead of Friday's J. Powell's speech, pay attention to release of U.S. eco. data later in the day starting with initial weekly jobless claims, Markit mfg n services PMIs n Kansas City mfg index. Also we have Minneapolis Fed President Kashkari (2019 non-voter n a dove) speaking at 18:30GMT.

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AceTrader Team

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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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