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1 Apr 2015
USD/JPY bounces off lows
FXStreet (Edinburgh) - After dipping to the 119.40 band, USD/JPY is now managing to clinch the area around 119.60.
USD/JPY lower on data, yields
The pair reacted adversely after both the US ADP report and the critical ISM Manufacturing missed expectations during last month. The knee jerk in Treasuries removed the initial tailwinds from the greenback, sparking a moderate leg lower towards 119.60.
Moving forward Thursday’s calendar, Japanese Foreign Bond Investment and Monetary Base are due ahead of US Initial Claims, Trade Balance and Factory Orders.
USD/JPY levels to watch
As of writing the pair is losing 0.48% at 119.53 with the immediate support at 119.42 (low Apr.1) ahead of 119.11 (low Mar.30) and then 119.00 (psychological level). On the upside, a breakout of 120.37 (high Mar.31) would open the door to 121.00 (psychological level) and finally 121.20 (high Mar.20).
USD/JPY lower on data, yields
The pair reacted adversely after both the US ADP report and the critical ISM Manufacturing missed expectations during last month. The knee jerk in Treasuries removed the initial tailwinds from the greenback, sparking a moderate leg lower towards 119.60.
Moving forward Thursday’s calendar, Japanese Foreign Bond Investment and Monetary Base are due ahead of US Initial Claims, Trade Balance and Factory Orders.
USD/JPY levels to watch
As of writing the pair is losing 0.48% at 119.53 with the immediate support at 119.42 (low Apr.1) ahead of 119.11 (low Mar.30) and then 119.00 (psychological level). On the upside, a breakout of 120.37 (high Mar.31) would open the door to 121.00 (psychological level) and finally 121.20 (high Mar.20).