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AceTraderFx Jun 12: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
12 Jun 2017 02:01GMT
USD/JPY - 110.19.. Despite last Friday's impressive rise from 109.77 (AUS) to as high as 110.81 in New York due to broad-based usd's strength on the back of selloff in sterling and rising U.S. Treasury yields, the pair retreated in New York afternoon as US yields eased together with retreat in U.S. stocks and inta-day softness in early Asian trading, suggesting 1st leg of correction from last Wednesday's 6-week bottom at 109.12 has ended and consolidation with downside bias is in store.
Therefore, selling dlr on recovery is favoured but profit should be taken on subsequent decline.
Offers are tipped at 110.45/50 n more above with stops reported above 110.85, bids are noted at 110.15-10 with stops below 110.00.
More stops are touted below 109.70 with there is market talk of good buying interest at 109.40-20 area.
No U.S. eco. data is due out today except U.S. Fed budget at 18:00GMT, however, main focus is the 2-day FOMC meeting which starts tom where the Fed is widely expected to hike its key rates for the 2nd time this year on Wednesday, so dlr should be supported on dips initially this week.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
Intra-Day Market Moving News and Views
12 Jun 2017 02:01GMT
USD/JPY - 110.19.. Despite last Friday's impressive rise from 109.77 (AUS) to as high as 110.81 in New York due to broad-based usd's strength on the back of selloff in sterling and rising U.S. Treasury yields, the pair retreated in New York afternoon as US yields eased together with retreat in U.S. stocks and inta-day softness in early Asian trading, suggesting 1st leg of correction from last Wednesday's 6-week bottom at 109.12 has ended and consolidation with downside bias is in store.
Therefore, selling dlr on recovery is favoured but profit should be taken on subsequent decline.
Offers are tipped at 110.45/50 n more above with stops reported above 110.85, bids are noted at 110.15-10 with stops below 110.00.
More stops are touted below 109.70 with there is market talk of good buying interest at 109.40-20 area.
No U.S. eco. data is due out today except U.S. Fed budget at 18:00GMT, however, main focus is the 2-day FOMC meeting which starts tom where the Fed is widely expected to hike its key rates for the 2nd time this year on Wednesday, so dlr should be supported on dips initially this week.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates