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Dec 01 - 07:55 PM

USD/JPY - Hovers Near 6-Week Low; Ueda's Comments Spur Bears

By Krishna K  —  Dec 01 - 06:15 PM
  • USD/JPY offered in early Asia after closing 1.2% lower Friday

  • Undermined by rising expectations of a BOJ December rate hike

  • Faster-than-expected Tokyo inflation, BOJ Ueda's remarks spur rate hike bets

  • BOJ's Ueda says wage trends key to possible rate hikes, Nikkei reports

  • Lower U.S. yields, safe haven demand on global trade fears fuel JPY demand

  • Pair closes below 55-day MA for 1st time since Oct 2 in bearish sign

  • Open prospect of a drop to 148.17; initial support 149.00-10

  • Resistance 150.00-10, 150.45-50; range Fri 149.47-151.53, Mon 149.52-149.77

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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