19 Jan 2015
USD/JPY bulls taking back control with work to do
FXStreet (Guatemala) - USD/JPY is currently trading at 117.58 with a high of 117.69 and a low of 117.36.
USD/JPY is stable in Tokyo, with over 100 pips in the bag on the upside from Friday's business. The volatility of markets of last week is absent, post the SNB shock that gave rise a stronger dollar overall and is likely to underpin the greenbacks top spot as cash diversifications flee to US assets with equity futures and EM's suffering as a result of the SNB's surprise action to remove the EUR/CHF floor.
The pair remains within the familiar range, now recovering from the bearish trend within that range that threatened the 116 handle and mid December low and the 38.2% retracement to115.55/50. However, Bulls are taking back control in the aftermath of the SNB and we await for the week to unravel, with BoJ minutes the focus on the calendar for the week.
USD/JPY is stable in Tokyo, with over 100 pips in the bag on the upside from Friday's business. The volatility of markets of last week is absent, post the SNB shock that gave rise a stronger dollar overall and is likely to underpin the greenbacks top spot as cash diversifications flee to US assets with equity futures and EM's suffering as a result of the SNB's surprise action to remove the EUR/CHF floor.
The pair remains within the familiar range, now recovering from the bearish trend within that range that threatened the 116 handle and mid December low and the 38.2% retracement to115.55/50. However, Bulls are taking back control in the aftermath of the SNB and we await for the week to unravel, with BoJ minutes the focus on the calendar for the week.