29 Jan 2015
USD/JPY: Offered with US yields subdued - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that the USD/JPY pair has remained within its 117.00/118.80 range.
Key Quotes:
"US yields tumbled ahead of the Central Bank announcement, and remain subdued, with the 10Y yield at 1.73%, also supporting Yen strength."
"Technically the 1 hour chart shows indicators gaining bearish strength below their midlines, whilst the price develops below its moving averages."
"In the 4 hours chart the technical picture is quite similar to the 1 hour chart, all of which supports further declines, yet buying interest has been surging in the 117.00/30 area since mid January, which means a clear break below this area is required to confirm the move towards 116.60 in the short term."
Key Quotes:
"US yields tumbled ahead of the Central Bank announcement, and remain subdued, with the 10Y yield at 1.73%, also supporting Yen strength."
"Technically the 1 hour chart shows indicators gaining bearish strength below their midlines, whilst the price develops below its moving averages."
"In the 4 hours chart the technical picture is quite similar to the 1 hour chart, all of which supports further declines, yet buying interest has been surging in the 117.00/30 area since mid January, which means a clear break below this area is required to confirm the move towards 116.60 in the short term."