8 Apr 2015
USD/JPY heavy in the 120.00's ahead of possible 121.00 ceiling
FXStreet (Guatemala) - USD/JPY is currently trading at 120.27 with a high of 120.45 and a low of 119.43.
USD/JPY has been better bid across European and US markets with stocks performing well while the greenback has also printed advances generally across the board. A three week high was recorded but still the bulls struggle in the 120.00's and the rally was capped at 120.43 earlier. The market is now set on the BoJ meeting later on with chatter around the idea that the Central Bank will come with talks of additional easing measures, possibly weighing on the the Yen.
Technically, analysts at Bank of Tokyo Mistsubishi sighted the upper ceiling of USD/JPY as possibly limited at around the 121.00-level and added that fundamentally, the March FOMC minutes, which essentially signalled a slower pace of Fed rate hikes may undermine the US dollar. "At the BoJ meeting on 7th -8 th April, the MPC is unlikely to change its monetary policy stance."
USD/JPY has been better bid across European and US markets with stocks performing well while the greenback has also printed advances generally across the board. A three week high was recorded but still the bulls struggle in the 120.00's and the rally was capped at 120.43 earlier. The market is now set on the BoJ meeting later on with chatter around the idea that the Central Bank will come with talks of additional easing measures, possibly weighing on the the Yen.
Technically, analysts at Bank of Tokyo Mistsubishi sighted the upper ceiling of USD/JPY as possibly limited at around the 121.00-level and added that fundamentally, the March FOMC minutes, which essentially signalled a slower pace of Fed rate hikes may undermine the US dollar. "At the BoJ meeting on 7th -8 th April, the MPC is unlikely to change its monetary policy stance."