19 Aug 2015
USD/JPY holding the bid in to Asia
FXStreet (Guatemala) - USD/JPY is currently trading at 124.38 with a high of 124.57 and a low of 124.22.
USD/JPY is starting out in early Asia flat with a lack of drivers in the overnight session to follow through in thin summer markets. The housing stats in the US was about the only event that allowed the dollar to remain firm with a 20 pip run that the pair managed to hold on to through the US session. Looking back, the GDP numbers for Japan were released at the start of the week and allowed the Yen some time in a position of strength when the numbers read -0.4% Q/Q for Q2 beating expectations of -0.5% and we will now await the BoJ decision this week ahead of CPI's for the US and the FOMC minutes to round up the week.
USD/JPY levels near and wide
USD/JPY levels in the 4 hours chart, as noted by Valeria Bednarik, chief analyst at FXStreet, have the price resting above a horizontal 100 SMA, while the technical indicators continue to move back and forth around their mid-lines, clearly reflecting the ongoing range.
On a break higher, the June peak at 125.86 stands as a key technical level on a break of the 125 handle, through 125.20. This comes in ahead of the May 1997 high at 127.48. To the downside, on a break of the 124 handle yet again, 123.01 late July low comes as a major supporting level.
USD/JPY is starting out in early Asia flat with a lack of drivers in the overnight session to follow through in thin summer markets. The housing stats in the US was about the only event that allowed the dollar to remain firm with a 20 pip run that the pair managed to hold on to through the US session. Looking back, the GDP numbers for Japan were released at the start of the week and allowed the Yen some time in a position of strength when the numbers read -0.4% Q/Q for Q2 beating expectations of -0.5% and we will now await the BoJ decision this week ahead of CPI's for the US and the FOMC minutes to round up the week.
USD/JPY levels near and wide
USD/JPY levels in the 4 hours chart, as noted by Valeria Bednarik, chief analyst at FXStreet, have the price resting above a horizontal 100 SMA, while the technical indicators continue to move back and forth around their mid-lines, clearly reflecting the ongoing range.
On a break higher, the June peak at 125.86 stands as a key technical level on a break of the 125 handle, through 125.20. This comes in ahead of the May 1997 high at 127.48. To the downside, on a break of the 124 handle yet again, 123.01 late July low comes as a major supporting level.