According to today’s daily FX report, sell orders around ¥160 in dollar-yen appear to be limited, with market views divided between the prospect that a breakout will still take time and the view that it is within expectations. Comments from Finance Vice-Minister Mimura and BOJ Policy Board member Asada also affected market developments.
Dollar-yen traded range-bound during Asian hours today, falling to ¥159.479 intraday before recovering to the upper ¥159 range after reports that BOJ Policy Board member Asada was cautious about additional rate hikes. Sell orders were observed around ¥159.950, ¥160.000 and ¥160.200 on the upside, while a buy order at ¥159.350 and a stop-loss sell order at ¥159.450 were confirmed on the downside.
Market views are divided between the prospect that a move above ¥160 will still take time and the view that a breakout is within expectations. Against a backdrop of continued uncertainty, today’s key points for future market movements can be read from the FX order information.