15 Jul 2014
USD/JPY a possible non-event this session
FXStreet (Guatemala) - FXStreet (Guatemala) - USD/JPY is trading at 101.57, up 0.04% on the day, having posted a daily high at 101.60 and low at 101.53.
Is a non-mover on the Tokyo open, with the Nikkei up 0.38%, and we sit here staring into space awaiting a likely non-event from the BoJ. The BoJ Governor Haruhiko Kuroda is very likely to hold out acting on any additional monetary stimulus, but then again, it wouldn’t be the first time that markets get a surprise and that might come in the form of additions to their easing program. Yellen and US retails sales could give us more to trade from as far as this cross goes.
USD/JPY and political risks
It has recently picked up a little since last weeks risk aversion, but then again we more of the same at the end of the week to be concerned for. Analysts at Rabobank explained, “Sunday is the deadline for the US and Iran to strike a nuclear deal. That presents some degree of political risk for markets, but given that we are already shrugging off open civil war in Iraq and Syria, along with fighting between Gaza and Israel, the likelihood of a major market impact seems low”.
USD/JPY Levels
Current price is 101.57, with resistance ahead at 101.60 (Daily High), 101.64 (Yesterday's High), 101.68 (Daily Classic R1), 101.70 (Hourly 200 SMA) and 101.72 (Daily 20 SMA). Next support to the downside can be found at 101.54 (Daily Open), 101.53 (Daily Low), 101.52 (Hourly 20 EMA), 101.52 (Weekly Classic PP) and 101.50 (Daily Classic PP).
Is a non-mover on the Tokyo open, with the Nikkei up 0.38%, and we sit here staring into space awaiting a likely non-event from the BoJ. The BoJ Governor Haruhiko Kuroda is very likely to hold out acting on any additional monetary stimulus, but then again, it wouldn’t be the first time that markets get a surprise and that might come in the form of additions to their easing program. Yellen and US retails sales could give us more to trade from as far as this cross goes.
USD/JPY and political risks
It has recently picked up a little since last weeks risk aversion, but then again we more of the same at the end of the week to be concerned for. Analysts at Rabobank explained, “Sunday is the deadline for the US and Iran to strike a nuclear deal. That presents some degree of political risk for markets, but given that we are already shrugging off open civil war in Iraq and Syria, along with fighting between Gaza and Israel, the likelihood of a major market impact seems low”.
USD/JPY Levels
Current price is 101.57, with resistance ahead at 101.60 (Daily High), 101.64 (Yesterday's High), 101.68 (Daily Classic R1), 101.70 (Hourly 200 SMA) and 101.72 (Daily 20 SMA). Next support to the downside can be found at 101.54 (Daily Open), 101.53 (Daily Low), 101.52 (Hourly 20 EMA), 101.52 (Weekly Classic PP) and 101.50 (Daily Classic PP).