Intra-day Market Moving News and Views (USD/JPY)
USD/JPY - ...... Although dlr stabilized in
o/n New York after falling the most in 5-year from 111.88 (Asia) to as
low as 108.88 due to surprised BoJ's unchanged monetary policy decision,
price had fallen again after meeting renewed selling at 108.20 ahead of
Asian open and weakened to 107.75 in Tokyo morning.
Today's focus for the greenback will be on the release of a slew of U.S. data in New York session, these include Personal Consumption, Personal Income, PCE, Employment Cost, Chicago PMI, and University of Michigan Consumer Sentiment. Later, Federal Reserve Bank of San Francisco President John Williams will give a panel presentation on 'Systemic Risk - Inevitable or Preventable?' before the Milken Institute 2016 Global Conference at 21:30GMT.
At present, stops below April's 17-month trough at 107.63 are now in focus. However, bids from various accounts are tipped at 107.50-30 region with mixture of bids and stops at 107.20-00.
On the upside, offers are noted at 108.00-10 and then 108.20-30 with stops above 108.50.