USD/JPY stays comatose despite upbeat US GDP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    USD/JPY remains comatose just above 113.00 levels despite upward revision of US Q4 GDP as volumes remain thin on account of trading holiday.

    Weekly gain is a done deal

    At 113.08, the pair is trading well above this week’s opening price of 111.54 levels. There are no more data releases due now and thus volumes are likely to dry up even further. Hence, weekly gain is now a done deal.

    Pair clocked a high of 113.32 today earlier today, before falling back to 113.00 levels, where it stays comatose despite upward revision of the US Q4 GDP.

    USD/JPY Technical Levels

    The immediate hurdle is seen at 113.64 (rising trend line on the daily chart), above which the spot could target 113.98 (23.6% of 75.56-125.86). Conversely, acceptance below 113.00 handle would shift risk in favor a drop to 112.22 (Mar 9 low).
    For more information, read our latest forex news.

Share This Page

free forex signals