30 Jan 2014
USD/JPY holds in range, Nikkei plummets
FXstreet.com (Córdoba) - The USD/JPY continues to trade sideways above 102.00. Stocks in Japan are plunging, the Nikkei 225 is falling more than 2.50%. Risk aversion is dominating the first minutes of the session favoring the Yen across the board. Also new economic data from Japan was released: retail sales rose 0.8% in December, above expectations.
USD/JPY remains sideways
After the FOMC statement, the USD/JPY bottomed at 101.82 but bounced quickly to the level it had before. In the last hours of the American session the pair traded within a range, with support at 102.00 and resistance at 102.35.
Despite risk aversion price action continues to be limited to the mentioned range. On a wider view, the USD/JPY remains under pressure after dropping 140 pips from Wednesday’s high to test weekly lows.
USD/JPY remains sideways
After the FOMC statement, the USD/JPY bottomed at 101.82 but bounced quickly to the level it had before. In the last hours of the American session the pair traded within a range, with support at 102.00 and resistance at 102.35.
Despite risk aversion price action continues to be limited to the mentioned range. On a wider view, the USD/JPY remains under pressure after dropping 140 pips from Wednesday’s high to test weekly lows.