Yen Falls Amid BoJ Rate Hike Uncertaintyfxcue.com

(fxcue news) - The Japanese yen weakened against other major currencies in the Asian session on Wednesday, due to uncertainties over the timing of the Bank of Japan's (BoJ) next interest rate hike. Earlier this week, Bank of Japan Governor Kazuo Ueda issued a warning against keeping borrowing prices too low and hinted at a potential interest rate hike in December, but he was evasive about the timeframe. Data from the Ministry of Finance showed that Japan posted a merchandise trade deficit of 461,2 billion yen in October. That missed forecasts for a shortfall of 360.4 billion yen following the upwardly revised 294.1-billion-yen deficit in September. Exports were up 3.1 percent on year at 9.426 trillion-yen, exceeding expectations for an increase of 2.2 percent following the 1.7 percent decline in the previous month. Imports rose an annual 0.4 percent to 9.887 trillion yen versus forecasts for a decline of 0.3 percent following the 1.8 percent increase a month earlier. In the Asian trading today, the yen fell to 5-day low of 164.72 against the euro and 197.68 against the pound, from recent highs of 163.97 and 196.24, respectively. If the yen extends its downtrend, it is likely to find support around 167.00 against the euro and 200.00 against the pound. Against the U.S. dollar and the Swiss franc, the yen slipped to 5-day lows of 155.53 and 175.94 from recent highs of 154.59 and 175.27, respectively. The yen may test support around 157.00 against the greenback and 177.00 against the yen. Looking ahead, U.S. mortgage approvals data and U.S. EIA crude oil data are due to be released in the New York session.

Yen Falls Amid BoJ Rate Hike Uncertainty

Swiss Market Ends Notably Lower

Japan Trade Data Due On Wednesday

TSX Ends Marginally Higher As Stocks Pare Early Losses

Dollar Turns In Mixed Performance Against Major Counterparts

South Korea Producer Prices Slip 0.1% In October

NZ Dollar Advances Against Most Majors

Yen Falls Amid BoJ Rate Hike Uncertainty

Win Streak May Continue For South Korea Shares

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Trader

Buy more near the opening of gold at around 2606, lose 2598, look at 2620, 2626; Short selling is available near 2647 first!

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

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Yen Falls Amid BoJ Rate Hike Uncertainty

Swiss Market Ends Notably Lower

Japan Trade Data Due On Wednesday

TSX Ends Marginally Higher As Stocks Pare Early Losses

Dollar Turns In Mixed Performance Against Major Counterparts

South Korea Producer Prices Slip 0.1% In October

NZ Dollar Advances Against Most Majors

Yen Falls Amid BoJ Rate Hike Uncertainty

Win Streak May Continue For South Korea Shares

Please sign in

Trader

Buy more near the opening of gold at around 2606, lose 2598, look at 2620, 2626; Short selling is available near 2647 first!

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Tags

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