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Forex technical analysis: USDJPY modestly higher in the new week of trading

Discussion in 'Technical Analysis' started by ForexLive, May 23, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Trade data out at 2350 GMT The USDJPY has moved a touch higher in early week trading. Over the weekend Japan's FM Aso expressed concerns about the speculation in the JPY and the sharp move higher from the mid February level at 114.868. The CME's futures commitment of traders report has seen a rise in long JPY positions from lower levels at the end of 2015. This is indicative of what Aso was saying. So he may have had a point. Of course, most economists had expected more monetary stimulus - which has not happened. The last push to the lows on May 3rd, was helped by BOJ which was less dovish than the market expected.

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