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USD/JPY: offered on softish greenback in Asia

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 31, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - USD/JPY us lacking volume with Japan out in holiday season as we approach the end of the year. 2016 holds plenty pr opportunity in uncertain times and we await full desks and markets to return to what might be a volatile start for 2016.

    For the time being, the greenback is a little off in thin Asian markets today so far, with the major down 10 pips for the session so far awaiting better liquidity in the US market, with France and Germany out and the rest of Europe, including London closing half day for NYE celebrations. The US will feed us the last remaining data while stock markets will be open until the regular final closing bell.

    USD/JPY levels

    Technically, Valeria Bednarik, chief analyst at FXStreet explained, " According to the 4 hours chart, the pair can advance some, given that the technical indicators aim higher above their mid-lines, yet gains are seen limited by a strongly bearish 100 SMA heading south around 121.45. Nevertheless, the pair will likely require a strong catalyst to break above this last, and be able, then, to establish a more constructive upward scenario."
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