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FxWirePro: Japanese Yen hits fresh 8-month low in early Asia after boj’s monetary policy meeting minutes

Japanese Yen hits fresh 8-month low in early Asia after boj’s monetary policy meeting minutes

 

  • USD/JPY is currently trading around 114.64 marks.
  • It made intraday high at 114.73 and low at 114.00 levels.
  • Intraday bias remains bullish till the time pair holds key support at 114.00 marks.
  • A daily close above 114.00 will take the parity higher towards key resistances around 114.88, 115.50, 117.21 and 118.18 levels respectively.
  • On the other side, a sustained close below 114.00 will drag the parity down towards key supports around 113.54, 112.95, 111.99, 111.47, 110.99, 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively
  • BOJ minutes – One member said current yield curve not sufficient to achieve 2 pct inflation around fiscal 2019/20.
  • BOJ minutes – Most members shared view that BOJ should stick with current policy guidelines.
  • BOJ minutes – One member said CPI is likely to rise for time being but gains will be temporary.
  • Japan Oct composite PMI (manufacturing and services) rises to 5-month high of 53.4 from 51.7 in Sept.
  • Japan Oct services PMI climbs to 26-month high of 53.4 from 51.0 in Sept, on sharp rise in new orders.
  • Tokyo’s Nikkei share average opens up 0.33 pct at 22,612.96.

 

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