AceTraderFx Nov 28: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
28 Nov 2017 02:30GMT
USD/JPY - 111.17… Dlr swung broadly sideways in choppy Asian trading following yesterday’s weakness to a fresh 2-month trough of 110.84 in New York morning due to yen buying on risk aversion following media reports that North Korea may be preparing for another missile launch (see previous update for details), however, price briefly jumped to 111.31 at the close on short covering.
Looks like we have made a temp. low as the greenback is currently maintaining a firm undertone against its major peers, suggesting range trading is in store, so selling dlr on further intra-day recovery is still favoured.
Initial offers are tipped at 111.30 with stops above 111.45, however, more selling interest is reported at 111.60/70.
On the downside, bids are noted at 110.95-85 with stops below 110.80.
Pay attention to a slew of U.S. data stating with building permits, wholesale inventories, Redbook retail sales, monthly home sales, monthly housed price, CaseShiller home price, consumer confidence, Richmond Fed mfg index.
After speeches by some Fed officials this morning, more are due to speak later in the day, see our EI page for details.