19 May 2015
USD/JPY bulls capped at 120 handle for time being
FXStreet (Guatemala) - USD/JPY is currently trading at 119.97 with a high of 120.00 and a low of 119.96.
USD/JPY is trading back on the bid after a bearish closing week last week, and sets the scene once again as a swing trade between the familiar ranges. The week ahead may change things up a little as we are inundated with news.
For Japan, ahead of Kuroda on Friday, the week holds out for key Gross Domestic Product (QoQ) (Q1). this has been sighted as a key element to which the BoJ is gauging in respect to their policy outlook while for the US, the calendar is jam packed with first, the FOMC Minutes then Philadelphia Fed Manufacturing Survey (May) and Consumer Price Index (MoM) (Apr) as key data impacts.
Technically, and once again, we are trading within familiar parameters with the120.00 resistance fending the bulls off l for now. The 118.80 level comes as a key barrier before 118.30, 117.80 and the well defined 116 level. Major resistance comes as 121.95/00 on a break out of 120.50.
USD/JPY is trading back on the bid after a bearish closing week last week, and sets the scene once again as a swing trade between the familiar ranges. The week ahead may change things up a little as we are inundated with news.
For Japan, ahead of Kuroda on Friday, the week holds out for key Gross Domestic Product (QoQ) (Q1). this has been sighted as a key element to which the BoJ is gauging in respect to their policy outlook while for the US, the calendar is jam packed with first, the FOMC Minutes then Philadelphia Fed Manufacturing Survey (May) and Consumer Price Index (MoM) (Apr) as key data impacts.
Technically, and once again, we are trading within familiar parameters with the120.00 resistance fending the bulls off l for now. The 118.80 level comes as a key barrier before 118.30, 117.80 and the well defined 116 level. Major resistance comes as 121.95/00 on a break out of 120.50.