Intra-day Market Moving News and Views (USD/JPY)
24 May 2016 02:00GMT
USD/JPY - ...... Dollar is nursing loss in subdued Tokyo morning after
yesterday's intra-day selloff from 110.24 (AUS) to as low as 109.11 in
'delayed' reaction to weekend's warning issued by U.S. to Japan on
yen-intervention to weaken the yen.
Although dlr tumbled to session low of 09.11 in New York after tripping
stops below 109.33 (European low), short-covering (profit-taking) lifted
price back to 109.41 in Asia, suggesting choppy trading above said New
York low would continue before decline from Friday's 3-week top at
110.59 resumes later today.
Offers are tipped at 109.55/65 and more above with stops reported above
110.00, initial bids are noted at 109.20-10 with stops below 109.00.
Later today, U.S. will release Redbook retail sales, then Market mfg
PMI, new home sales data n Richmond Fed mfg shipment index during New
York morning session.
