20 Jan 2015
USD/JPY: Stops above 118.00 triggered
FXStreet (Bali) - USD/JPY bullish momentum has extended during Tokyo hours, with the pair breaking through 118.00, triggering stop loss buy orders above the round number in the process, with the highest set at 118.25.
Jim Langlands, Founder at FXCharts, notes: "If we see the dollar up in the 118.20/70 area, it would seem, from a technical perspective, to be a reasonable sell, with a SL placed above 119.00, but looking for a run back to the 117/116 area, although I doubt that we see the dollar much below 117.00 today, unless major risk aversion."
Jim adds: "Keep an eye out for Chinese equities today. After yesterday’s steep 8% fall, another big selloff today could put pressure on other global equity markets, which would then potentially flow through into demand for the safe-haven Yen."
Jim Langlands, Founder at FXCharts, notes: "If we see the dollar up in the 118.20/70 area, it would seem, from a technical perspective, to be a reasonable sell, with a SL placed above 119.00, but looking for a run back to the 117/116 area, although I doubt that we see the dollar much below 117.00 today, unless major risk aversion."
Jim adds: "Keep an eye out for Chinese equities today. After yesterday’s steep 8% fall, another big selloff today could put pressure on other global equity markets, which would then potentially flow through into demand for the safe-haven Yen."