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9 Jan 2014
Yen crosses: Nikkei 225 unlikely to offer inspiration
FXstreet.com (Bali) - The Nikkei 225 is likely to provide limited clues to determine next Yen moves as range-bound conditions in the index extend ahead of the Non Farm Payrolls data in the US.
Nikkei 225 still in range
From a daily view, the Nikkei 225 futures chart shows price bottled up in a 15,730-16,100 range, with the daily kijun and tenkan acting as the main walls capping swing extensions.
Expect tight Yen trading in Asia
The usual tendency to be moderate on risk taking Fridays in Asia, paired with low interest to put on fresh big bets ahead of the NFP later today, leads us to assume that the short term undefined direction bias will persist, which in turn should see Yen trading contained in a relatively tight range.
Nikkei 225 still in range
From a daily view, the Nikkei 225 futures chart shows price bottled up in a 15,730-16,100 range, with the daily kijun and tenkan acting as the main walls capping swing extensions.
Expect tight Yen trading in Asia
The usual tendency to be moderate on risk taking Fridays in Asia, paired with low interest to put on fresh big bets ahead of the NFP later today, leads us to assume that the short term undefined direction bias will persist, which in turn should see Yen trading contained in a relatively tight range.