AceTraderFx Apr 25: Intra-Day News and Views (USD/JPY)

Intra-Day Market Moving News and Views
25 Apr 2016

USD/JPY - ...... Although dlr extended Friday's spectacular rally and rose marginally higher above 111.83 (Friday New York) to 111.91 ahead of Asian open today, profit-taking together with intra-day fall in Nikkei knocked price down to 111.15 in Tokyo morning. 

Today, U.S. will release the New Home Sales report at 14:00GMT. Market expects the data to be 0.527 mln units in March compare to 0.512 mln units in preceding month.

Lack of follow-through buying n subsequent intra-day weakness in Asia suggests consolidation with mild downside bias would be seen ahead of European open but recent broad-based strength in usd suggests buying on dips in anticipation of another upmove later today is recommended.

At present, initial offers are noted at 111.30-40 and more at 111.50-60 with stops above 111.80, whilst bids are reported at 111.10-00 and then 110.90-70 region with stops below 110.60.

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