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6 Jan 2015
USD/JPY tests 118.69 support – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at Market Pulse, shares that an improving Yen pushed the USD/JPY pair below the 119 handle to test the 118.69 support, further anticipating US events to have a heightened directional impact on the pair.
Key Quotes
“USD/JPY has moved lower on Tuesday, as the yen continues to post gains this week.“
“On the release front, the Japanese 10-year bond auction dipped, with a yield of only 0.30%. This was the indicator’s third straight drop.”
“In the US, today’s highlight is the ISM Non-Manufacturing PMI, with the markets expecting a weaker reading for December. The estimate stands at 58.2 points.”
“With only a few minor events coming out of Japan this week, US events will have a heightened impact on the direction of USD/JPY.”
“USD/JPY posted modest losses in the Asian session, testing support at 118.69. The pair has edged lower in European trade.”
“On the downside, 118.69 is under strong pressure. Will the pair break below this level during the day? 117.94 is stronger. 119.83 is an immediate resistance line.”
Key Quotes
“USD/JPY has moved lower on Tuesday, as the yen continues to post gains this week.“
“On the release front, the Japanese 10-year bond auction dipped, with a yield of only 0.30%. This was the indicator’s third straight drop.”
“In the US, today’s highlight is the ISM Non-Manufacturing PMI, with the markets expecting a weaker reading for December. The estimate stands at 58.2 points.”
“With only a few minor events coming out of Japan this week, US events will have a heightened impact on the direction of USD/JPY.”
“USD/JPY posted modest losses in the Asian session, testing support at 118.69. The pair has edged lower in European trade.”
“On the downside, 118.69 is under strong pressure. Will the pair break below this level during the day? 117.94 is stronger. 119.83 is an immediate resistance line.”