11 Aug 2015
USD/JPY: bang in the middle of key levels
FXStreet (Guatemala) - USD/JPY is currently trading at 124.63 with a high of 124.66 and low of 124.51.
USD/JPY is a quiet play at the start of Tokyo, flat with a lack of drivers for the day. The major has made a minor recovery from the 124.20's after the slide from the 125 handle and two-month highs at 125.07. Attempts through 124.80 were blocked on a slightly less hawkish Lockhart talking in NY where markets were anticipating some further clarity in respect to lift off in September, of which he wasn't committing to suggesting a time frame this occasion around.
Markets are looking for the next data for the US and will be attentive to retails sales this week ahead of the CPI's and FOMC minutes next week. For Japan, the BoJ minutes will be available this week as well as Industrial Production. USD/JPY will be vulnerable to lackluster US performances and bears may target 123.00 support on a break of 123.80/00.
USD/JPY technically a buy on dips above 124
The June peak at 125.86 would be the next target through the recent highs on the 125 handle, ahead ofthe May 1997 high at 127.48. Valeria Bednarik, chief analyst explained, "Sellers are waiting in the 125.00 region, and it will take a steady advance beyond it to confirm additional gains towards 125.85, the year high, with buyers waiting on dips towards the 124.00 figure."
USD/JPY is a quiet play at the start of Tokyo, flat with a lack of drivers for the day. The major has made a minor recovery from the 124.20's after the slide from the 125 handle and two-month highs at 125.07. Attempts through 124.80 were blocked on a slightly less hawkish Lockhart talking in NY where markets were anticipating some further clarity in respect to lift off in September, of which he wasn't committing to suggesting a time frame this occasion around.
Markets are looking for the next data for the US and will be attentive to retails sales this week ahead of the CPI's and FOMC minutes next week. For Japan, the BoJ minutes will be available this week as well as Industrial Production. USD/JPY will be vulnerable to lackluster US performances and bears may target 123.00 support on a break of 123.80/00.
USD/JPY technically a buy on dips above 124
The June peak at 125.86 would be the next target through the recent highs on the 125 handle, ahead ofthe May 1997 high at 127.48. Valeria Bednarik, chief analyst explained, "Sellers are waiting in the 125.00 region, and it will take a steady advance beyond it to confirm additional gains towards 125.85, the year high, with buyers waiting on dips towards the 124.00 figure."