26 Aug 2015
USD/JPY off highs, back to 119.30
FXStreet (Edinburgh) - The greenback is losing the grip vs. its Japanese counterpart on Wednesday, with USD/JPY now easing to the 119.30 area.
USD/JPY capped by 119.80
The better tone of the dollar in early trade has pushed spot to daily tops near 119.80, although the bull run lacked of follow through afterwards. The USD was bid overnight as Asian markets were reacting to yesterday’s PBoC move, prompting the pair to bounce off lows in the 118.60 region.
Ahead in the day, US Durable Goods Orders plus the speech by Fed’s W.Dudley will set the tone on the USD-side of the equation, while critical inflation figures will be the salient event in the Japanese docket tomorrow.
USD/JPY key levels
At the moment the pair is up 0.54% at 119.47 with the next hurdle at 119.84 (high Aug.26) ahead of 120.12 (high Aug.25) and then 121.27 (high Aug.24). On the flip side, a breakdown of 118.45 (low Aug.26) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).
USD/JPY capped by 119.80
The better tone of the dollar in early trade has pushed spot to daily tops near 119.80, although the bull run lacked of follow through afterwards. The USD was bid overnight as Asian markets were reacting to yesterday’s PBoC move, prompting the pair to bounce off lows in the 118.60 region.
Ahead in the day, US Durable Goods Orders plus the speech by Fed’s W.Dudley will set the tone on the USD-side of the equation, while critical inflation figures will be the salient event in the Japanese docket tomorrow.
USD/JPY key levels
At the moment the pair is up 0.54% at 119.47 with the next hurdle at 119.84 (high Aug.26) ahead of 120.12 (high Aug.25) and then 121.27 (high Aug.24). On the flip side, a breakdown of 118.45 (low Aug.26) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).