16 Jan 2015
USD/JPY eases from highs
FXStreet (Edinburgh) - After climbing as high as the vicinity of 117.80, USD/JPY is now returning to the 117.40 region as the greenback seems to be taking a breather.
USD/JPY focus on BoJ
The next risk event for the Japanese yen will be next week’s BoJ monetary policy meeting on Wednesday. The meeting has grown in relevance amidst recent comments by Governor Kuroda, leaving the door open for an extension of the current stimulus programme and a probable revision of the 2% inflation target. In the US, the highlights will come from releases from the housing sector.
USD/JPY levels to watch
At the moment the pair is advancing 0.96% at 117.41 with the next resistance at 117.91 (Tenkan Sen) followed by 118.00 (psychological level) and then 118.15 (55-d MA). On the flip side, a break below 115.85 (2015 low Jan.14) would expose 115.56 (low Nov.16 2014) and finally 115.49 (38.2% of 105.19-121.86).
USD/JPY focus on BoJ
The next risk event for the Japanese yen will be next week’s BoJ monetary policy meeting on Wednesday. The meeting has grown in relevance amidst recent comments by Governor Kuroda, leaving the door open for an extension of the current stimulus programme and a probable revision of the 2% inflation target. In the US, the highlights will come from releases from the housing sector.
USD/JPY levels to watch
At the moment the pair is advancing 0.96% at 117.41 with the next resistance at 117.91 (Tenkan Sen) followed by 118.00 (psychological level) and then 118.15 (55-d MA). On the flip side, a break below 115.85 (2015 low Jan.14) would expose 115.56 (low Nov.16 2014) and finally 115.49 (38.2% of 105.19-121.86).