13 Jul 2015
USD/JPY after Grexit risk instigating bearish opening gap
FXStreet (Guatemala) - USD/JPY is currently trading at 122.55 with a high of 122.75 and a low of 122.43.
USD/JPY is bid in tokyo, despite the "Greek talks" failures over the weekend with an early Asia session's bearish gap that has since been traded in to by the bulls.
USD/JPY price action and levels
USD/JPY dropped from last week's closing price of 122.48 to score a low of 122.25 on a bearish opening gap. The price had recovered fully until further supply capped the minor rebound and we have been in a chop within the short term range since. We are currently bid in the Tokyo opening 30 minutes but remain below the opening gap still. Levels are wide, from below 120 psychological support that opens up March's 118.50 territory and commencing channel. then, to the upside, the 125.00 psychological handle and yearly highs at 125.85 are widest levels.
USD/JPY fundamentals and Grexit time out
The EU summit of all 28 European Union constituents members that had been planned for Sunday was cancelled because there have been very difficult Greek talks over a third bailout Greek deal for Greece and markets are in risk-off mode, hence Yen trading with a bullish bias and USD/JPY remains better offered below the Bearish opening gap.
The Telegraph reported that Merkel as well as several unnamed EZ nations are backing the proposal of a temporary Grexit if a solution and the greek parliament do not approve the creditors requirements.
USD/JPY is bid in tokyo, despite the "Greek talks" failures over the weekend with an early Asia session's bearish gap that has since been traded in to by the bulls.
USD/JPY price action and levels
USD/JPY dropped from last week's closing price of 122.48 to score a low of 122.25 on a bearish opening gap. The price had recovered fully until further supply capped the minor rebound and we have been in a chop within the short term range since. We are currently bid in the Tokyo opening 30 minutes but remain below the opening gap still. Levels are wide, from below 120 psychological support that opens up March's 118.50 territory and commencing channel. then, to the upside, the 125.00 psychological handle and yearly highs at 125.85 are widest levels.
USD/JPY fundamentals and Grexit time out
The EU summit of all 28 European Union constituents members that had been planned for Sunday was cancelled because there have been very difficult Greek talks over a third bailout Greek deal for Greece and markets are in risk-off mode, hence Yen trading with a bullish bias and USD/JPY remains better offered below the Bearish opening gap.
The Telegraph reported that Merkel as well as several unnamed EZ nations are backing the proposal of a temporary Grexit if a solution and the greek parliament do not approve the creditors requirements.