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15 May 2015
USD/JPY: Mixed but pressured from the north
FXStreet (Guatemala) - USD/JPY is currently trading at 119.22 with a high of 119.25 and a low of 119.15.
USD/JPY is holding steady on the 119 handle post a dip below the figure where demand picked up some cheap dollars at 118.90. The major is pressured to the downside on a poor run of data of late and a change in sentiment in respect to the Feds requirement for a rate hike this year. It is shifting towards ideas that we will not see any action this year while the economy steers its current course. Also, the recent improvement in Japan’s external account surplus is encouraging USD/JPY selling.
Technically, the outlook remains mixed and we have the same 120.82/84 resistance in the main on the 120 handle being the December 2014 and the April high. Bulls will look for a test of the 14 year downtrend at 122.07 through there. Through 119.15, to the downside, 118.80 and 118.40 come in as next key supports
USD/JPY is holding steady on the 119 handle post a dip below the figure where demand picked up some cheap dollars at 118.90. The major is pressured to the downside on a poor run of data of late and a change in sentiment in respect to the Feds requirement for a rate hike this year. It is shifting towards ideas that we will not see any action this year while the economy steers its current course. Also, the recent improvement in Japan’s external account surplus is encouraging USD/JPY selling.
Technically, the outlook remains mixed and we have the same 120.82/84 resistance in the main on the 120 handle being the December 2014 and the April high. Bulls will look for a test of the 14 year downtrend at 122.07 through there. Through 119.15, to the downside, 118.80 and 118.40 come in as next key supports