19 Jan 2015
USD/JPY surviving above 117.00
FXStreet (Edinburgh) - USD/JPY seems to have found support around 117.00 the figure on Monday, now concentrating the trade in the 117.10/15 band.
USD/JPY weaker as greenback retreats
The offered tone is prevailing around the US dollar after the opening bell in Europe, dragging spot to the lower-117.00s after hitting the boundaries of 117.70 overnight. A stronger yen prevented the Nikkei to extend the move above the 17K threshold, as traders preferred to remains cautious ahead of the BoJ meeting on Wednesday and the ECB gathering on Thursday. In the data space, Japanese Industrial Production contracted further, falling 3.7% on a year to November and the Capacity Utilization declined 0.8% in the same period. On the positive side, Consumer Confidence ticked higher to 38.8 from 37.7during December.
USD/JPY levels to consider
At the moment the pair is down 0.38% at 117.14 and a break below 115.85 (2015 low Jan.14) would open the door to 115.56 (low Nov.16 2014) and then 115.49 (38.2% of 105.19-121.86). On the upside, the next hurdle aligns at 117.91 (Tenkan Sen) followed by 117.95 (high Jan.14) and then 118.00 (psychological level).
USD/JPY weaker as greenback retreats
The offered tone is prevailing around the US dollar after the opening bell in Europe, dragging spot to the lower-117.00s after hitting the boundaries of 117.70 overnight. A stronger yen prevented the Nikkei to extend the move above the 17K threshold, as traders preferred to remains cautious ahead of the BoJ meeting on Wednesday and the ECB gathering on Thursday. In the data space, Japanese Industrial Production contracted further, falling 3.7% on a year to November and the Capacity Utilization declined 0.8% in the same period. On the positive side, Consumer Confidence ticked higher to 38.8 from 37.7during December.
USD/JPY levels to consider
At the moment the pair is down 0.38% at 117.14 and a break below 115.85 (2015 low Jan.14) would open the door to 115.56 (low Nov.16 2014) and then 115.49 (38.2% of 105.19-121.86). On the upside, the next hurdle aligns at 117.91 (Tenkan Sen) followed by 117.95 (high Jan.14) and then 118.00 (psychological level).