We’ll be watching the Nikkei index for cues on USD/JPY movements. Falls in the Nikkei have precipitated falls in USD/JPY (and vice-versa).
Apart from the Nikkei movements, though, watch for buyers of USD/JPY at 99.00 and just below – this area should privide support today. To the topside, 100 has sellers ahead and around.
News overnight of Japanese government moves to encourage the nation’s public pension funds to increase investment in equities and overseas assets. be aware, though, no rush … the government panel to consider encouraging moves expects to implement policies no later than April 2015. Nearly two years away (where’s that roll-eye emoticon?).
Nikkei225, 5 days of 5-minute candles:
