18 Feb 2015
USD/JPY set ahead of pending BoJ
FXStreet (Guatemala) - USD/JPY is trading at 119.25 currently on the open in Tokyo with a high of 119.28 and a low of 119.11 in Asia.
USD/JPY is slightly offered in the open of Yokyo while the main event of Asia will be up later in the form of the BOJ. USD/JPY has been a relatively steady climb on the back of higher US yields. The focus overnight shifted onto commodities and the greenback benefited from this also. Meanwhile, data from the calendar overnight offered the The NY Fed’s Empire State manufacturing index as the main event although no great shakes there and came in only slightly soft at +7.8.
While it is widely expected that the Central Bank will not be making any changes, nor at any fixed time, Kuroda's press conference will be of interest given the recent nervousness around the value of the Yen and possible implications sighted by Bank officials. Ranges are familiar with 120.50 bulls target and 115.50 mid Dec levels as support.
USD/JPY is slightly offered in the open of Yokyo while the main event of Asia will be up later in the form of the BOJ. USD/JPY has been a relatively steady climb on the back of higher US yields. The focus overnight shifted onto commodities and the greenback benefited from this also. Meanwhile, data from the calendar overnight offered the The NY Fed’s Empire State manufacturing index as the main event although no great shakes there and came in only slightly soft at +7.8.
While it is widely expected that the Central Bank will not be making any changes, nor at any fixed time, Kuroda's press conference will be of interest given the recent nervousness around the value of the Yen and possible implications sighted by Bank officials. Ranges are familiar with 120.50 bulls target and 115.50 mid Dec levels as support.