17 Aug 2015
USD/JPY main focus in Asia
FXStreet (Guatemala) - USD/JPY is currently trading at 124.28 with a high of 124.38 and a low of 124.21
USD/JPY is the main focus as we enter the new trading week with the preliminary Q2 GDP data from Japan coming up. Last week, the major fell from above the 125.20 mark to 123.78 before recovering to 124.60 where supply came in again and pressured the greenback lower to test the 124.00 level. That level held on that occasion, leaving the unit in neutral territory in early Asia this week so far.
The week for the major will pick up further in as we await the FOMC minutes and CPI's from the US and the BoJ interest rate decision. The dust around China has settled, for now, but could be kicked up again in which the Yen could likely benefit within its safe haven status as it did last week.
USD/JPY levels
Technically, USD/JPY bulls have the June peak at 125.86 eyes through a break of the 125 handler to the upside ahead of the May 1997 high at 127.48. To the downside, on a break of the 124 handle again, 123.01 late July low remains compelling.
USD/JPY is the main focus as we enter the new trading week with the preliminary Q2 GDP data from Japan coming up. Last week, the major fell from above the 125.20 mark to 123.78 before recovering to 124.60 where supply came in again and pressured the greenback lower to test the 124.00 level. That level held on that occasion, leaving the unit in neutral territory in early Asia this week so far.
The week for the major will pick up further in as we await the FOMC minutes and CPI's from the US and the BoJ interest rate decision. The dust around China has settled, for now, but could be kicked up again in which the Yen could likely benefit within its safe haven status as it did last week.
USD/JPY levels
Technically, USD/JPY bulls have the June peak at 125.86 eyes through a break of the 125 handler to the upside ahead of the May 1997 high at 127.48. To the downside, on a break of the 124 handle again, 123.01 late July low remains compelling.