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16 Mar 2015
USD/JPY: Steady on 121 handle ahead of a busy week
FXStreet (Guatemala) - USD/JPY is currently trading at 121.38 with a high of 121.46 and a low of 121.29.
USD/JPY is holding in the 121 handle and directionless, extending last week's channel in a sideways drift. The major has felt the readiness of supply each time advances are made towards and on to 122 and ahead of the 15-year downtrend. The calendar is light in Asia and we will await US markets to open for Industrial Production and tomorrows BoJ's monetary policy statement.
The main event for the week comes in the FOMC and Yellen's subsequent press conference while, technically, the downside's key support is 120.43's uptrend ahead of the 20d and 55d DMA at 119.73 and 119.00 before 16th Feb low at 118.11.
USD/JPY is holding in the 121 handle and directionless, extending last week's channel in a sideways drift. The major has felt the readiness of supply each time advances are made towards and on to 122 and ahead of the 15-year downtrend. The calendar is light in Asia and we will await US markets to open for Industrial Production and tomorrows BoJ's monetary policy statement.
The main event for the week comes in the FOMC and Yellen's subsequent press conference while, technically, the downside's key support is 120.43's uptrend ahead of the 20d and 55d DMA at 119.73 and 119.00 before 16th Feb low at 118.11.