20 Mar 2015
USD/JPY: Back to the start in familiar ranges
FXStreet (Guatemala) - USD/JPY is currently trading at 120.76 with a high of 120.87 and a low of 120.69.
USD/JPY has ticked up on the Tokyo open, testing the 120.80 mark but without conviction and seems like e are in to a drift for this week's close, upon a week that was the most turbulent for some time. The Yen has moved over 300 pips this week on the back of the uncertainty that came with the FOMC announcements that took some time for the markets to digest with some potentially over reactions in the market place.
Meanwhile, the BoJ minutes were released prior to the Tokyo open, with much of the same beat from the same drum, and the Bank repeating that there will be easing until 2% inflation is stable, and hence very little movement in the major. Technically, we are in familiar ranges, and although there was a huge amount of volatility yesterday, nothing has changed in respect of technical levels. We are back to the start again and until 122 and the 15-year downtrend is broken to the upside, we are consolidated ahead of the 115.50 mid Dec levels as key support to the downside
USD/JPY has ticked up on the Tokyo open, testing the 120.80 mark but without conviction and seems like e are in to a drift for this week's close, upon a week that was the most turbulent for some time. The Yen has moved over 300 pips this week on the back of the uncertainty that came with the FOMC announcements that took some time for the markets to digest with some potentially over reactions in the market place.
Meanwhile, the BoJ minutes were released prior to the Tokyo open, with much of the same beat from the same drum, and the Bank repeating that there will be easing until 2% inflation is stable, and hence very little movement in the major. Technically, we are in familiar ranges, and although there was a huge amount of volatility yesterday, nothing has changed in respect of technical levels. We are back to the start again and until 122 and the 15-year downtrend is broken to the upside, we are consolidated ahead of the 115.50 mid Dec levels as key support to the downside