Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 12 Feb 2019 03:00GMT
USD/JPY – 110.48.. Dlr hits 6-week high of 110.54 in active Tokyo trading as rise in U.S. Treasury yields and intra-day gain in the Nikkie (N225 currently up over 2% at 20754) boosted risk appetite.
Yesterday’s break of last week’s high at 110.16 (now sup) together with dlr index (DXY) climbing to a new 2019 high (97.117) in New York suggests usd’s recent winning streak would continue and price is en route towards 110.82 (61.8% of 114.55-104.79) and possibly towards next chart obj. at 111.40 later this week.
Therefore, buying the greenback on pullback is the way to go.
Bids are noted at 110.35-25 with stops below 110.00 whilst offers are tipped at 110.55/65 with stops above 110.85.
The only U.S. data due out is JOLTS job openings, however, Fed Chairman J. Powell will deliver at 17:45GMT but the topic is “Ecomomic Development in High Poverty Rural Communities”, so traders can treat this to be a non-event.
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