Tag Archives: JPY

A range down washout in the Yen is partly the result of acceptable Chinese and Japanese economic databut also because of suggestions from the BOJ that capital expenditures are starting to rise and

Ongoing consolidation within a range bound by 98.00 and 98.72. Sagging Chinese economic expectationsand hints of more easing from the BOJ probably leaves the bear camp with a slight edge.

A loss of upside momentum in the Yen has resulted in significant consolidation resistance left up around the98.72 level. We can’t argue against a near term decline to recent consolidation support of

The Yen remains within striking distance of its recent highs but it has clearly lost upside momentum overthe last 24 hours. With the 98.78 level seen as a significant consolidation high zone for

The Yen retains a slightly positive tilt into the Thursday US trade but we suspect that the market will beginto run into significant overhead resistance up at 98.80.

The BOJ’s post-meeting comments provided the catalyst for the Yen’s updraft on Tuesday, but the marketclearly got ahead of itself without the benefit of fresh risk headlines to fuel safe-haven flows.

Weakness in the Dollar combined with positive BOJ dialogue overnight has launched the Yen into a freshupside extension. With the initial rise above the 97.50 level and

The Yen has fallen back from its recent highs in the wake of disappointing Japanese leading indicatorreadings. In fact, press outlets are touting the Japanese leaders as the softest readings since the sub-prime crisis and