11 Aug 2015
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=a8f3cb5a-cc95-424c-9c01-5c722f4ceb0a
FXStreet (Edinburgh) - The Japanese yen is now rapidly depreciating vs. its American counterpart on Tuesday, sending USD/JPY to fresh tops beyond the 125.00 mark.
USD/JPY firmer on USD bid
Stops triggered in the 125.00 neighborhood plus a renewed sentiment towards the dollar has boosted spot to levels last seen in early June in the 125.15/20 band. In the meantime, yields in US Treasuries keep pushing higher, with the 10-year benchmark around 2.13, advancing 4.51%.
Next of relevance in the pair will be the BoJ minutes followed by the significant Tertiary Industry Index and Industrial Production figures. In the US economy, Thursday’s Retail Sales and Initial Claims are next in importance.
USD/JPY levels to consider
As of writing the pair is gaining 0.43% at 125.17 with the next resistance at 125.59 (high Jun.8) ahead of 125.68 (high Jun.7) and finally 125.86 (2015 high Jun.5). On the downside, a break below 124.35 (low Aug.10) would expose 124.10 (low Aug.7) and then 124.02 (low Aug.5).
USD/JPY firmer on USD bid
Stops triggered in the 125.00 neighborhood plus a renewed sentiment towards the dollar has boosted spot to levels last seen in early June in the 125.15/20 band. In the meantime, yields in US Treasuries keep pushing higher, with the 10-year benchmark around 2.13, advancing 4.51%.
Next of relevance in the pair will be the BoJ minutes followed by the significant Tertiary Industry Index and Industrial Production figures. In the US economy, Thursday’s Retail Sales and Initial Claims are next in importance.
USD/JPY levels to consider
As of writing the pair is gaining 0.43% at 125.17 with the next resistance at 125.59 (high Jun.8) ahead of 125.68 (high Jun.7) and finally 125.86 (2015 high Jun.5). On the downside, a break below 124.35 (low Aug.10) would expose 124.10 (low Aug.7) and then 124.02 (low Aug.5).