4 Mar 2015
USD/JPY erases losses
FXStreet (Córdoba) - The USD/JPY pair recovered after being able to hold above 119.50 and approached daily highs as greenback reached new highs versus European currencies.
The US dollar dropped to 119.45 against the yen after the release of US economic data but then bounced to the upside. Recently reached 119.79, level located slightly below the highs that lie at 119.81. Stocks were falling in Wall Street but moving away from the lows as USD/JPY erased losses. The Dow Jones was down 0.39% and the Nasdaq 0.16%.
USD/JPY around 119.70
The pair is back to the level it had at the beginning of the week, still holding a bullish bias as it stands above 119.40 and a short term uptrend. After the relase of today’s US ADP employment report, the next sharp move could be originated by the NFP to be published on Friday.
The US dollar dropped to 119.45 against the yen after the release of US economic data but then bounced to the upside. Recently reached 119.79, level located slightly below the highs that lie at 119.81. Stocks were falling in Wall Street but moving away from the lows as USD/JPY erased losses. The Dow Jones was down 0.39% and the Nasdaq 0.16%.
USD/JPY around 119.70
The pair is back to the level it had at the beginning of the week, still holding a bullish bias as it stands above 119.40 and a short term uptrend. After the relase of today’s US ADP employment report, the next sharp move could be originated by the NFP to be published on Friday.