AceTraderFx May 09: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
09 May 2018 03:00GMT
USD/JPY - 109.52.. Despite yesterday's wild swings in hectic New York trading (due to position adjustments before Trump's announcement on Iran nuclear deal and then intra-day brief but sharp fall on U.S. withdrawal from the deal), the greenback jumped shorty after Tokyo morning on Wednesday as rising U.S. yields and renewed usd's strength boosted risk appetite led to broad-based yen selling, the pair rallied from 109.00 (AUS) to as high as 109.64 after tripping stops above 109.40 before easing ahead of Tokyo lunch break.
Dlr's intra-day break above 109.40 (Monday high) suggests the correction from May's 110.04 peak has ended earlier at 108.65 (Friday) and consolidation with upside bias remains, so buying the buck on dips is favoured.
Bids are noted at 108.40-30 and more below with stops below 108.80.
Offers are tipped at 109.65/75 with stops above 110.05.
On the data front, U.S. will release MBA mortgage applications, final PPI and wholesale inventories.
Atlanta Fed President Bostic (voter) will speak at a conference at 17:15GMT.
Intra-Day Market Moving News and Views
09 May 2018 03:00GMT
USD/JPY - 109.52.. Despite yesterday's wild swings in hectic New York trading (due to position adjustments before Trump's announcement on Iran nuclear deal and then intra-day brief but sharp fall on U.S. withdrawal from the deal), the greenback jumped shorty after Tokyo morning on Wednesday as rising U.S. yields and renewed usd's strength boosted risk appetite led to broad-based yen selling, the pair rallied from 109.00 (AUS) to as high as 109.64 after tripping stops above 109.40 before easing ahead of Tokyo lunch break.
Dlr's intra-day break above 109.40 (Monday high) suggests the correction from May's 110.04 peak has ended earlier at 108.65 (Friday) and consolidation with upside bias remains, so buying the buck on dips is favoured.
Bids are noted at 108.40-30 and more below with stops below 108.80.
Offers are tipped at 109.65/75 with stops above 110.05.
On the data front, U.S. will release MBA mortgage applications, final PPI and wholesale inventories.
Atlanta Fed President Bostic (voter) will speak at a conference at 17:15GMT.