30 Jan 2015
USD/JPY supply coming in and frustrating the bulls
FXStreet (Guatemala) - USD/JPY is down in Tokyo, currently trading at 118.25 from a high of 118.46.
The pair was offered ahead of the open with a series of offers on the back of the Japanese data that came through in a bundle with CPI ex food and oil decreasing,. The unemployment rate was better than expected although Industrial Production came in as a disappointment.
The overnight session in the US had the greenback on the bid and under demand which took the pair back into positive territory within the ebs and flows of the current range of late. However, we are some way off from any follow through that would confirm a decent signal to add to longs on the way up to challenge the 118.80 resistance and onto the 119 handle.
The pair was offered ahead of the open with a series of offers on the back of the Japanese data that came through in a bundle with CPI ex food and oil decreasing,. The unemployment rate was better than expected although Industrial Production came in as a disappointment.
The overnight session in the US had the greenback on the bid and under demand which took the pair back into positive territory within the ebs and flows of the current range of late. However, we are some way off from any follow through that would confirm a decent signal to add to longs on the way up to challenge the 118.80 resistance and onto the 119 handle.