USD/JPY regains 114.00 and beyond

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The risk appetite has returned to the global markets, now lifting USD/JPY back above the 114.00 handle.

    USD/JPY supported near 113.40

    After a brief adventure to session lows near 113.40, the pair has sparked the current recovery above the 114.00 mark bolstered by a solid come back of the risk appetite trends.

    Collaborating with the risk-on mood, crude oil prices remain on the rise ahead of the key meeting between OPEC and Iranian delegates in Iran.

    Data wise in the US, the FOMC minutes from the January meeting will take centre stage later in the NA session, with consensus expectations gyrating around a balanced tone from the Committee.

    USD/JPY levels to watch

    As of writing the pair is advancing 0.11% at 114.09 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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