….(27-76)
Anyway, he feels less lonely now……
USD/JPY’s starting to give back it’s gains into Europe after gapping to around 84.40 as Asia opened from Friday’s NY close around 83.52 on the back of Abe’s landslide win, which will give his government the opportunity to really push through reform bills.
The pair’s sitting just above 84.00( former barrier) after a dip back to 83.85 from 9 month highs of 84.48 (EBS).
Japanese exporters and some long term proprietary players were the noted sellers off the highs, but fresh USD demand is expected to re-surface once the current bout of profit taking subsides.
There’s talk of bids down at 83.80/90 and 83.50/60, with near term resistance up around 84.10/20 for now ahead of a presumed barrier at 84.50.
