16 Dec 2014
USD/JPY moving lower with conviction
FXStreet (Guatemala) - USD/JPY is trading at 116.63, up 0.00% on the day, having posted a daily high at 116.73 and low at 116.58.
USD/JPY is finding resistance on the upside as it struggles to keep a footing in the upper end of Decembers range. The on going concerns over global growth and the deteriorating outlook for EM countries is supporting the Yen.
We have already lost the 116 handle and traded at the mid point in the 115’s before attracting committed bulls, but that commitment is beginning to fade again as we move over from the US session and the pair penetrates lower and back off the 117 handle with a convincing break for the bears.
USD/JPY is finding resistance on the upside as it struggles to keep a footing in the upper end of Decembers range. The on going concerns over global growth and the deteriorating outlook for EM countries is supporting the Yen.
We have already lost the 116 handle and traded at the mid point in the 115’s before attracting committed bulls, but that commitment is beginning to fade again as we move over from the US session and the pair penetrates lower and back off the 117 handle with a convincing break for the bears.