AceTraderFx Sept 27: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
27 Sep 2018 03:00GMT
USD/JPY - 112.86… Dlr pares overnight loss in early Tokyo trading after falling from a fresh 2-month high of 113.13 to 112.63 in post-FOMC New York.
Despite a brief climb to 113.13 after expected quarter-point rate hike by the Fed, broad-based usd’s retreat the Fed after dropped a reference in its statement to the word “accommodative” knocked the pair to session lows of 112.63 as U.S. yields also dropped on this, however, dlr staged a minor recovery at Fed’s J. Powell’s post-FOMC presser when he said later said Fed’s monetary policy was still accommodative.
Intra-day rebound to 112.90 suggests 1st leg of correction is over and sideways swings are in store before prospect of one more fall to retrace recent cross-inspired upmove, therefore, intra-day players can sell dlr on recovery for another fall, day traders are recommended to buy dlr on next fall.
Offers are tipped to 112.90/00 with stops reported above July’s 113.17 peak.
Bids are noted at 112.70-60 with stops below there, however, more buying interest is touted at 112.30-20.
On the data front, U.S. will release a slew of eco. data starting with weekly jobless claims, durable good orders, final Q2 GDP, trade balance, wholesale inventories, pending home sales asnd KC Fed mfg index, suggesting it will be lively trading session in New York.
BOJ Gov. Kuroda will deliver a brief speech in Tokyo at 06:30GMT whilst Fed Chair J.
Powell will give brief remarks on U.S. economy before an event with business leaders at 20:30GMT.