19 Jun 2015
USD/JPY hovers around 123.00, Kuroda comments ignored
FXStreet (Mumbai) - The USD/JPY pair continues to hover around 123.00 levels after the Bank of Japan governor Kuroda press conference turned out to be a non-event.
Rejected at 123.20
The pair turned lower from the high of 123.20, taking the pair lower to a band of 122.95-123.05 as the Japanese Yen received safe haven bids on account of a Greek led drop in the common currency. Meanwhile, BOJ Kuroda’s comments were largely repetitive in nature. Consequently, the traders ignored the event and bid yen higher tracking the drop in the EUR/USD pair.
Ahead in the day, the Japanese Yen, along with other safe haven, could be heavily influenced by the Greek issue.
USD/JPY Technical Levels
The immediate support is located at 122.80, under which the pair could find support at 122.44 (June 10 low). On the other hand, a break above 123.70 could see the pair target 124.43 (June 17 high).
Rejected at 123.20
The pair turned lower from the high of 123.20, taking the pair lower to a band of 122.95-123.05 as the Japanese Yen received safe haven bids on account of a Greek led drop in the common currency. Meanwhile, BOJ Kuroda’s comments were largely repetitive in nature. Consequently, the traders ignored the event and bid yen higher tracking the drop in the EUR/USD pair.
Ahead in the day, the Japanese Yen, along with other safe haven, could be heavily influenced by the Greek issue.
USD/JPY Technical Levels
The immediate support is located at 122.80, under which the pair could find support at 122.44 (June 10 low). On the other hand, a break above 123.70 could see the pair target 124.43 (June 17 high).