The low overnight was 89.35 and the low so far today on the interbank trading platform EBS has been 89.33. Resistance is also firm at the overnight breakdown level around 89.80. These levels will probably contain the market until Europe … Continue reading
This is not an altogether unusual incident but it might nonetheless undermine the so-called ‘risk trades’. Now GBP/JPY is falling again. I hope all these moves make sense to somebody.
Imports increased by 12% YoY in December and imports decreased by 5.5%. An interesting footnote to the data is that China has overtaken the US as Japan’s top export destination.
After bouncing from just in front of the 50% retracement of the 84.84/93.78 at 89.30 this morning (89.35 was the EBS low), USD/JPY has made a solid rebound within its recent range but is holding below key resistance in the … Continue reading
So we’re unlikely to see official Japanese intervention anytime soon to arrest yens’ recent strength. I doubt many really saw such a scenario as realisitic at present levels anyways. Might get a bit of Kampo buy interest, but that’s about it. … Continue reading
Will communicate with market to avoid Japan debt rating downgrade Comments have helped lift yen across the board, USD/JPY presently down at 89.40.
The low so far has been 89.55 as heavy stops below 89.70 were liquidated.
The low so far today has been 89.82, just above the recent lows between 89.75/80. We can expect to see lots of stops just below.