USD/JPY is up from its late US/early Asia lows under 155.60.
We haven’t seen news headlines out of Japan apart from the data:
Japan flash PMIs (July): Manufacturing 49.2 (prior 50.0) Services 53.9 (prior 49.4)
This data is not usually much of a yen mover, and today is no different. The bounce back happened well before, on no fresh catalysts.
JPY swings look set to continue. USD/JPY rallies are attracting offers from those keen to take some USD/JPY longs off the table ahead of the Bank of Japan meeting next week. On the flip side those seeing continued carry opportunity are in with interest on USD/JPY dips. Keeping opportunities alive for everyone.
USD/JPY hourly chart
This article was written by Eamonn Sheridan at www.forexlive.com.
