2 Jul 2015
USD/JPY bulls back in control
FXStreet (Guatemala) - USD/JPY is currently trading at 123.34 with a high of 123.37 and a low of 123.15.
USD/JPY has been better bid at the start of the month, moving decisively to the upside form the off in Europe all the way through to the US and Asian handover. Tokyo has seen an initial bid and a few pips of a waver here or there, leaving the yen in supply and a positive tone around thee greenback.
USD/JPY price action
USD/JPY has rallied overnight from the 122.50's up to aforementioned highs and has been a one way course besides pressures on 123.20 to 122.80 support before resuming the upside and current levels.
USD/JPY fundamentals with Greece, US and Japan variables
Besides a bullish day on the US calendar and slightly increased sentiment ahead of the Nonfarm Payrolls tomorrow and a clear path towards a referendum in Greece, the Yen's own domestics are back into to the play with Japan's giant pension funds seeking invest more aggressively in domestic equities.
USD/JPY techncials
USD/JPY is technically still holding over the December 2014 high at 121.86, as noted by Karen jones, chief analyst at Commerzbank. "Recently we saw an emphatic rejection from the 124.46 level and will need to regain this resistance to refocus attention on the 125.86 June high. Note however the intraday Elliott wave is now more negative and suggesting rallies will terminate circa 122.90 and our bullish bias is wavering."
USD/JPY has been better bid at the start of the month, moving decisively to the upside form the off in Europe all the way through to the US and Asian handover. Tokyo has seen an initial bid and a few pips of a waver here or there, leaving the yen in supply and a positive tone around thee greenback.
USD/JPY price action
USD/JPY has rallied overnight from the 122.50's up to aforementioned highs and has been a one way course besides pressures on 123.20 to 122.80 support before resuming the upside and current levels.
USD/JPY fundamentals with Greece, US and Japan variables
Besides a bullish day on the US calendar and slightly increased sentiment ahead of the Nonfarm Payrolls tomorrow and a clear path towards a referendum in Greece, the Yen's own domestics are back into to the play with Japan's giant pension funds seeking invest more aggressively in domestic equities.
USD/JPY techncials
USD/JPY is technically still holding over the December 2014 high at 121.86, as noted by Karen jones, chief analyst at Commerzbank. "Recently we saw an emphatic rejection from the 124.46 level and will need to regain this resistance to refocus attention on the 125.86 June high. Note however the intraday Elliott wave is now more negative and suggesting rallies will terminate circa 122.90 and our bullish bias is wavering."