Japanese Yen Climbs Amid Cautious Trade
2022年7月12日 - 01:36PM
RTTF2
The Japanese yen advanced against its most major counterparts in
the Asian session on Tuesday, as risk sentiment dampened amid
continued worries over the Covid-19 outbreak in China and
aggressive monetary policy tightening that risks a recession.
Investors fear that the tough restrictions implemented by
Chinese authorities in the wake of its "dynamic Covid-zero" policy
could harm economic growth.
Oil prices fell on demand concerns as recent rise in COVID-19
cases in China clouded the economic outlook.
U.S. consumer inflation data is due on Wednesday, with
economists expecting a rise of 8.8 percent on year in June.
A strong inflation reading could increase pressure on the Fed to
intensify its aggressive pace of tightening.
In economic news, producer prices in Japan were up 0.7 percent
on month in June, the Bank of Japan said. That exceeded
expectations for an increase of 0.5 percent following the upwardly
revised 0.1 percent increase in May (originally flat). On a yearly
basis, producer prices jumped 9.2 percent - again beating forecasts
for 8.8 percent and down from the upwardly revised 9.3 percent gain
in the previous month (originally 9.1 percent).
The yen rose to 4-day highs of 137.28 against the euro and
162.52 against the pound, following its prior lows of 138.08 and
163.55, respectively. If the yen strengthens further, it is likely
to test resistance around 136.00 against the euro and 160.00
against the pound.
The yen touched a 4-day high of 83.72 against the kiwi and a
5-day high of 92.14 against the aussie, up from its early lows of
84.12 and 92.66, respectively. The yen is likely to find resistance
around 80.00 against the kiwi and 90.00 against the aussie.
The yen was up against the franc, at 139.35. On the upside,
132.00 is seen as its next resistance level.
Against the loonie, the yen edged up to 105.19, off its prior
low of 105.76. The yen may locate resistance around the 102.00
level.
In contrast, the yen retreated to 137.53 against the greenback,
after rising to 137.03 earlier in the session. The yen is seen
finding support around the 139.00 level.
Looking ahead, German ZEW economic confidence survey results for
July are due in the European session.
Sterling vs Yen (FX:GBPJPY)
FXチャート
から 2 2024 まで 3 2024
Sterling vs Yen (FX:GBPJPY)
FXチャート
から 3 2023 まで 3 2024