10 Feb 2014
USD/JPY opens higher, testing Friday’s highs
FXStreet (Córdoba) - The USD/JPY opened the week higher, testing Friday’s highs with a gap. Earier reached a daily high at 102.53, just 5 pips below last week highs and pulled back afterwards and currently trades at 102.45, 20 pips above Friday’s closing price.
Outlook looks brighter for the US dollar
Last week the USD/JPY posted the first gain after falling in the previous two, accumulating a decline of 225 pips. The weekly gain was modest but the reversal was important, showing some strength in the outlook for the US dollar.
A week ago the USD/JPY fell sharply to 100.75, the lowest price in two months and since then it has risen constantly, climbing back above 102.00. On Friday, the pair moved to the downside following the NFP but afterwards managed to rebound and rallied above 102.00 reaching the strongest rice for February at 102.58.
Outlook looks brighter for the US dollar
Last week the USD/JPY posted the first gain after falling in the previous two, accumulating a decline of 225 pips. The weekly gain was modest but the reversal was important, showing some strength in the outlook for the US dollar.
A week ago the USD/JPY fell sharply to 100.75, the lowest price in two months and since then it has risen constantly, climbing back above 102.00. On Friday, the pair moved to the downside following the NFP but afterwards managed to rebound and rallied above 102.00 reaching the strongest rice for February at 102.58.