5 Mar 2015
USD/JPY: Popping up in Tokyo, better bid so far
FXStreet (Guatemala) - USD/JPY is currently trading at 119.72 with a high of 119.78 and a low of 119.62.
USD/JPY is open in Tokyo recovering from the drift lower. Yen crosses else where were heavy with softness in equities overnight, and the major drifted with intentions to the downside. We now await further US data releases, and most crucially we will see further US labor market numbers and Nonfarm Payrolls at the end of the week.
Technically, we are in the broad ranges still and there is the 16th February low at 118.11 that protects space to 116, while to the upside, resistance comes at the February high at 120.48, 121.86 December high and then string resistance at 122.45, as explained by Karen Jones, chief analyst at Commerzbank.
USD/JPY is open in Tokyo recovering from the drift lower. Yen crosses else where were heavy with softness in equities overnight, and the major drifted with intentions to the downside. We now await further US data releases, and most crucially we will see further US labor market numbers and Nonfarm Payrolls at the end of the week.
Technically, we are in the broad ranges still and there is the 16th February low at 118.11 that protects space to 116, while to the upside, resistance comes at the February high at 120.48, 121.86 December high and then string resistance at 122.45, as explained by Karen Jones, chief analyst at Commerzbank.