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May 02 - 03:55 AM

USD/JPY - USD/CNH Routed Lower As USD/JPY Deflates, HK Stocks Rally

By Ewen Chew  —  May 02 - 03:10 AM
  • USD/CNH routed, falls to 7.2168 from 7.2321; last 7.2242

  • Bearish, as 55 DMA 7.2319 crumbles after 200 DMA break

  • Next stop is 38.2% Fibo, near 100 DMA 7.2082

  • USD/JPY coming off weighs on USD/AXJ broadly; last 155.36

  • Risk-on from 2.4% rally in HK stocks also boosts yuan

  • China mainland still closed for Labour Day break

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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