18 Feb 2015
USD/JPY eases further on US data
FXStreet (Edinburgh) - The dollar is now losing the grip vs. the Japanese yen, sending USD/JPY back to the 119.15/20 band.
USD/JPY weaker on data, eyes on FOMC
The pair continues to deflate after US Industrial Production expanded at a monthly pace of 0.2% during January, below forecasts for a 0.3% gain; in addition, Capacity Utilization in the US economy decreased to 79.4% in the last month, down from 79.7%.
The yen faced further buying interest after the BoJ left intact its monetary policy at today’s meeting. The central bank noted the economy continues to expand at a moderate pace although the trend in prices points downwards.
USD/JPY relevant levels
As of writing the pair is losing just 0.02% at 119.22 with the next support at 118.30 (cloud top) ahead of 118.10 (61.8% of 116.64-120.48) and then 117.02 (low Feb.5). On the other hand, a break above 119.42 (high Feb.16) would target 120.48 (high Feb.11) en route to 120.68 (high Jan.5).
USD/JPY weaker on data, eyes on FOMC
The pair continues to deflate after US Industrial Production expanded at a monthly pace of 0.2% during January, below forecasts for a 0.3% gain; in addition, Capacity Utilization in the US economy decreased to 79.4% in the last month, down from 79.7%.
The yen faced further buying interest after the BoJ left intact its monetary policy at today’s meeting. The central bank noted the economy continues to expand at a moderate pace although the trend in prices points downwards.
USD/JPY relevant levels
As of writing the pair is losing just 0.02% at 119.22 with the next support at 118.30 (cloud top) ahead of 118.10 (61.8% of 116.64-120.48) and then 117.02 (low Feb.5). On the other hand, a break above 119.42 (high Feb.16) would target 120.48 (high Feb.11) en route to 120.68 (high Jan.5).