21 May 2015
USD/JPY wobbling near 121.00
FXStreet (Edinburgh) - The Japanese keeps trading on a firmer note vs. its American counterpart on Thursday, with USD/JPY now navigating levels just above the 121.00 handle.
USD/JPY eyes on the BoJ
It seems the greenback is still suffering the effects of the neutral tone from the FOMC minutes released on Wednesday. The dollar remains on the back footing while US yields have lost traction and keep capping gains for the time being. Feeding the weakness around the dollar, the US calendar has once again disappointed market expectations, as manufacturing gauges by the Philly Fed and Markit plus Existing Home Sales have all missed forecasts.
Looking to Friday’s docket, the BoJ will hold its monetary policy meting followed by Kuroda’s presser, although prior surveys have practically ruled out any changes. back to the US, inflation figures tracked by the CPI will be the only publication, with core prices expected to have risen 1.7% on a year to April.
USD/JPY significant levels
At the moment the pair is retreating 0.23% at 121.06 and a breach of 120.58 (low May 20) would target 120.19 (Tenkan Sen) en route to 120.00 (Kijun Sen). On the upside, the initial hurdle aligns at 121.49 (high Mar.20) followed by 121.57 (high Mar.13) and finally 121.67 (high Mar.12).
USD/JPY eyes on the BoJ
It seems the greenback is still suffering the effects of the neutral tone from the FOMC minutes released on Wednesday. The dollar remains on the back footing while US yields have lost traction and keep capping gains for the time being. Feeding the weakness around the dollar, the US calendar has once again disappointed market expectations, as manufacturing gauges by the Philly Fed and Markit plus Existing Home Sales have all missed forecasts.
Looking to Friday’s docket, the BoJ will hold its monetary policy meting followed by Kuroda’s presser, although prior surveys have practically ruled out any changes. back to the US, inflation figures tracked by the CPI will be the only publication, with core prices expected to have risen 1.7% on a year to April.
USD/JPY significant levels
At the moment the pair is retreating 0.23% at 121.06 and a breach of 120.58 (low May 20) would target 120.19 (Tenkan Sen) en route to 120.00 (Kijun Sen). On the upside, the initial hurdle aligns at 121.49 (high Mar.20) followed by 121.57 (high Mar.13) and finally 121.67 (high Mar.12).