29 Apr 2015
USD/JPY: Lower ranges in view again below 188.80
FXStreet (Guatemala) - USD/JPY is currently trading at 119.83 with a high of 118.91 and a low of 118.79.
USD/JPY is trading with a bearish bias in the Tokyo open, extending the bearish sentiment from overnight trade as the greenback continues to be shunned left right and centre on the basis that we are postponing ideas of a rate hike in the first half of this year while data continues to disappoint from the US economy.
The latest was a miss in the Consumer Confidence for April that printed poorly at just 95.2 vs the consensus of 102.5 and the Richmond Manufacturing index fell below the consensus to -3. Tomorrow we await GDP Q1 ahead of the FOMC later in the week.
Technically, 118.80 is holding the bears at the gate for the time being but a break below here exposes the mid point of the handle and the late Feb-April support line at 118.20/50, guarding a new range to the downside from 118.80 to 115.80/20 Jan lows again.
USD/JPY is trading with a bearish bias in the Tokyo open, extending the bearish sentiment from overnight trade as the greenback continues to be shunned left right and centre on the basis that we are postponing ideas of a rate hike in the first half of this year while data continues to disappoint from the US economy.
The latest was a miss in the Consumer Confidence for April that printed poorly at just 95.2 vs the consensus of 102.5 and the Richmond Manufacturing index fell below the consensus to -3. Tomorrow we await GDP Q1 ahead of the FOMC later in the week.
Technically, 118.80 is holding the bears at the gate for the time being but a break below here exposes the mid point of the handle and the late Feb-April support line at 118.20/50, guarding a new range to the downside from 118.80 to 115.80/20 Jan lows again.