With the aid of a video, the 9 January JPY Intraday Technical Analysis shows that the Yen spiked on the BoJ announcement of QE tapering. Get updated.
9 January, HotForex –Asian stock markets moved broadly higher overnight. The Hang Seng headed for an 11th straight gain, led by property developers and energy producers and moving closer to the record levels, Japanese indices were underpinned by electronics makers and chemicals, despite a stronger Yen, with the Nikkei closing up 0.57%.
TSE 100 futures are also up, but U.S. stock futures are narrowly mixed, as Treasury yields rise in tandem with most long yields in Asia. Only China’s 20-year declined again, while Japan’s 10-year gained 1.1 bp and the 10-year Treasury 0.6 bp. European yields headed broadly south yesterday, despite gains on stock markets, but global movements suggest a correction in bonds. The data calendar today has German trade and production numbers at the start of the session, as well as French trade and Eurozone jobless numbers.
9 January JPY Intraday Technical Analysis (+Video)
JPY Bid on Baby Steps from BOJ – The yen spiked on the BoJ announcement of QE tapering, which sent USDJPY some 70 pips lower to a 112.9 low. The move is seen as a baby step toward normalizing monetary policy in Japan. Meanwhile, Bitcoin is back to 15k and key pivot.
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