Analysis

Main currencies maintain a bit extra combined on the session

The yen trails on a barely extra optimistic danger urge for food

WCRS 31-08
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There’s little change for essentially the most half and the technical image because the finish of final week stays largely intact as we get the brand new week underway.

The greenback is combined throughout the board however typically is seeing minor actions on the day to this point. The yen is the largest laggard as Japanese markets rebound somewhat, with Treasury yields additionally greater on the session. 10-year yields are up 2 bps to zero.741%.

European equities are additionally greater however are buying and selling off earlier highs, so the bit half exhaustion might be one thing to be careful for within the US session forward.

However for USD/JPY, value motion remains to be sitting below 106.00 and extra importantly, sellers are maintaining a protection of the 200-hour shifting common at present:

USD/JPY H1 31-08

That could be a key near-term degree to observe earlier than attending to the 100-hour MA (pink line) @ 106.09. Hold under these two ranges and the near-term bias stays extra bearish.

Elsewhere, the euro is trying extra uneven with EUR/USD bouncing round both aspect of the 1.1900 deal with. In the meantime, the pound is dogged by experiences of the UK Treasury trying to enhance taxes and a few Brexit pessimism.

The kiwi can also be a contact decrease because the RBNZ says that governor Orr might be talking on Wednesday, prone to try to jawbone the foreign money as soon as once more.

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