25 Mar 2015
USD/JPY: Supported but risk towards 55-DMA significant
FXStreet (Guatemala) - USD/JPY is currently trading at 119.77 with a high of 119.81 and a low of 119.69.
USD/JPY trades in the upper quarter of the 119 handle, flat in Tokyo below the psychological 120 handle. It is quite calm out there as the markets take some time out to reflect on the medium term hype and recent acknowledgements from the FOMC meeting that informed markets that we really are not any closer to a rate hike from the Fed and indeed the downgrades to the performance of the US economy have now been digested, weighing on the US dollar.
The greenback was better bid overnight though on the back of positive and higher than expected US CPI's all in all. Technically, we remain in familiar medium-term ranges. However, should the dollar be shunned again, on what ever basis, the 55-day moving average at 119.29/11 will remain as a target.
USD/JPY trades in the upper quarter of the 119 handle, flat in Tokyo below the psychological 120 handle. It is quite calm out there as the markets take some time out to reflect on the medium term hype and recent acknowledgements from the FOMC meeting that informed markets that we really are not any closer to a rate hike from the Fed and indeed the downgrades to the performance of the US economy have now been digested, weighing on the US dollar.
The greenback was better bid overnight though on the back of positive and higher than expected US CPI's all in all. Technically, we remain in familiar medium-term ranges. However, should the dollar be shunned again, on what ever basis, the 55-day moving average at 119.29/11 will remain as a target.