1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/JPY trims losses, looks to regain 113.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    After bottoming out in the 112.60 area, USD/JPY has managed to gather steam ans is now advancing towards the vicinity of 113.00 the figure.

    USD/JPY finds support at 112.60

    The Japanese yen has found some support in early trade after Governor H.Kuroda ruled out further cuts of the interest rate into the negative territory, although the decline halted just ahead of 112.50, sparking the ongoing correction higher.

    Data wise in Japan, inflation figures remain subdued, as shown by today’s results. In the US docket, the attention will be on another revision of Q4 GDP, followed by Trade Balance results and Personal Income/Spending.

    USD/JPY levels to watch

    As of writing the pair is retreating 0.03% at 112.91 with the next hurdle at 114.89 (high Feb.16) ahead of 115.28 (high Feb.10) and then 114.72 (20-day sma). On the flip side, a breakdown of 110.98 (low Feb.11) would expose 105.88 (200-m sma) and finally 105.18 (monthly low Oct.2014).
    For more information, read our latest forex news.
     

Share This Page