18 Aug 2015
USD/JPY: flat ion Tokyo in comfortable ranges for BoJ
FXStreet (Guatemala) - USD/JPY is currently trading at 124.45 with a high of 124.48 and a low of 124.38.
USD/JPY is flat on the open with the Nikkei slightly up 0.07% on a non eventful day on the calendar for the major specifically. The greenback was traded from 124.21 support in a narrow drift to the upside and currently levels, in a minor recovery of the downside from the 123.56 supply overnight. After the Japanese GDP yesterday, in an otherwise quiet session overnight, the focus came with the Empire State manufacturing data missing expectations at -14.92 vs 5.00 as the consensus.
However, the major has been contained within the wider 124.00 to 124.62 after the slide from 125.27 on the 11th August that bottomed at 123.77 and in proximity of the bearish June gap, remaining in comfortable ranges for the BoJ. The major will now be governed this week by flows in the greenback due to the CPI's and FOMC minutes that are due this week.
Technically contained in familiar ranges
The June peak at 125.86 stands as a key technical level on a break of the 125 handle, through 125.20. The May 1997 high at 127.48 stands as key resistance in the widest of near term ranges. To the downside, on a break of the 124 handle yet again, 123.01 late July low comes as a major supporting level.
USD/JPY is flat on the open with the Nikkei slightly up 0.07% on a non eventful day on the calendar for the major specifically. The greenback was traded from 124.21 support in a narrow drift to the upside and currently levels, in a minor recovery of the downside from the 123.56 supply overnight. After the Japanese GDP yesterday, in an otherwise quiet session overnight, the focus came with the Empire State manufacturing data missing expectations at -14.92 vs 5.00 as the consensus.
However, the major has been contained within the wider 124.00 to 124.62 after the slide from 125.27 on the 11th August that bottomed at 123.77 and in proximity of the bearish June gap, remaining in comfortable ranges for the BoJ. The major will now be governed this week by flows in the greenback due to the CPI's and FOMC minutes that are due this week.
Technically contained in familiar ranges
The June peak at 125.86 stands as a key technical level on a break of the 125 handle, through 125.20. The May 1997 high at 127.48 stands as key resistance in the widest of near term ranges. To the downside, on a break of the 124 handle yet again, 123.01 late July low comes as a major supporting level.