2 Feb 2015
USD/JPY stuck within familiar ranges and slightly bearish
FXStreet (Guatemala) - USD/JPY is currently trading at 117.18 with a high of 117.88 and a low of 117.01.
USD/JPY is leaning towards the 117 handle making lower highs in an environment that is has tendencies for safe havens in a risk of environment amongst much global uncertainty, from global Central Banks to political agendas in the EZ. Tonight's main risk event comes with the RBA with markets on the fence as to what the outcome there could be, with risks mounting towards a rate cut form the Central Bank.
Technically, the Market Strategy Team at UOB Group see that there are strong signs suggesting the current movement is the start of a sustained down-move. "Expect any rebound to hold below 117.80 for a move to 116.50." In a broader sense, the pair is very much within familiar ranges and until 115.50 is broken or 120 to the upside, the Major moves within the ebs and flows.
USD/JPY is leaning towards the 117 handle making lower highs in an environment that is has tendencies for safe havens in a risk of environment amongst much global uncertainty, from global Central Banks to political agendas in the EZ. Tonight's main risk event comes with the RBA with markets on the fence as to what the outcome there could be, with risks mounting towards a rate cut form the Central Bank.
Technically, the Market Strategy Team at UOB Group see that there are strong signs suggesting the current movement is the start of a sustained down-move. "Expect any rebound to hold below 117.80 for a move to 116.50." In a broader sense, the pair is very much within familiar ranges and until 115.50 is broken or 120 to the upside, the Major moves within the ebs and flows.