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USD/JPY and another attempt to 114.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Japanese currency keeps the negative note on Monday, with USD/JPY looking to approach the 114.00 mark once again.

    USD/JPY stronger on dollar, sentiment

    Poor results from Japanese flash Q4 GDP figures released overnight have morphed into increasing expectations of further stimulus by the Bank of Japan, fuelling JPY selling and prompting the Nikkei to advance more than 7% for the day.

    In the meantime, US markets will remain closed due to the President’s Day holiday, leaving the pair’s price action to the mercy of the broader risk mood.

    USD/JPY levels to watch

    As of writing the pair is advancing 0.54% at 113.91 and a surpass of 115.28 (high Feb.10) would expose 117.11 (20-day sma) and then 118.58 (55-day sma). On the downside, the next support aligns at 110.98 (low Feb.11) ahead of 105.88 (200-m sma) and finally 105.18 (monthly low Oct.2014).
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