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26 Mar 2015
USD/JPY: Downside opened up; Feb lows in sight
FXStreet (Guatemala) - USD/JPY is currently trading at 119.24 with a high of 119.54 and a low of 118.32.
USD/JPY is a cent higher from the start of business of the 26th March but has met supply through the 119.20 level and starts to fall back into line of the descending resistance line. However, there is a turn in the US dollar and the theme remains with the idea of a rate hike from the Fed and with there being good data of late, leaving next week's jobs numbers as a possible catalyst for further demand for the greenback.
USD/JPY is technically in to bearish territory with a look towards the bottom end of the ranges that include the Feb lows at 118.11 Feb 16th and o to the 116.64 2 month lows.
USD/JPY is a cent higher from the start of business of the 26th March but has met supply through the 119.20 level and starts to fall back into line of the descending resistance line. However, there is a turn in the US dollar and the theme remains with the idea of a rate hike from the Fed and with there being good data of late, leaving next week's jobs numbers as a possible catalyst for further demand for the greenback.
USD/JPY is technically in to bearish territory with a look towards the bottom end of the ranges that include the Feb lows at 118.11 Feb 16th and o to the 116.64 2 month lows.