15 Jun 2015
USD/JPY: Bullish start to the bearish trend
FXStreet (Guatemala) - USD/JPY is currently trading at 123.40 with a high of 123.44 and a low of 123.21.
USD/JPY is closing the gap in the Tokyo opening moments while the pair had originally been a bearish start in early Asia down to the aforementioned lows, stabilising there and gradually recovering in the previous hours. There has been a soft tone to the dollar across a number of majors, bar the euro but the Yen remains broadly strong across the FX tickers.
The Yen has been on the front foot, near enough, since Kuroda called a virtual top in USD/JPY as officials continued to talk the major lower diminishing the fundamental case for a higher price.
Analysts at TD Securities recently suggested that investors should look to hedge or tighten strategic stops on long USD/JPY positions as summer markets loom. " Only a decisive move above 125.86 will negate this view as premature and put us back on a more bullish footing."
USD/JPY is closing the gap in the Tokyo opening moments while the pair had originally been a bearish start in early Asia down to the aforementioned lows, stabilising there and gradually recovering in the previous hours. There has been a soft tone to the dollar across a number of majors, bar the euro but the Yen remains broadly strong across the FX tickers.
The Yen has been on the front foot, near enough, since Kuroda called a virtual top in USD/JPY as officials continued to talk the major lower diminishing the fundamental case for a higher price.
Analysts at TD Securities recently suggested that investors should look to hedge or tighten strategic stops on long USD/JPY positions as summer markets loom. " Only a decisive move above 125.86 will negate this view as premature and put us back on a more bullish footing."