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Jul 21 - 11:55 PM

USD/JPY - Asia Counter Trades Offshore Yen Weakness

By Andrew M Spencer  —  Jul 21 - 11:25 PM

  • -0.1% with JPY crosses a touch lower, EUR/JPY -0.15%, AUD/JPY -0.25%

  • Modest profit taking or bargain hunting into Wednesday's risk bounce

  • Japanese holiday, but Asia ran with offshore risk 'on' AsiaxJP stocks +1%

  • Two Olympic athletes test positive for COVID-19 - organisers nT9N2FH00W

  • Charts; horizontal Tenkan and Kijun lines suggest a period of consolidation

  • 5, 10 & 21 daily moving averages conflict, which also supports range trading

  • 110.36 Kijun line then Wednesday's NY 110.38 high are initial resistance

  • 109.88 Tenkan line then 109.85 cloud top are first supports

    For more click on FXBUZ


jpy 2 jul 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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