Back
5 May 2015
USD/JPY flat awaiting US data events
FXStreet (Guatemala) - USD/JPY is currently trading at 120.1 with a high of 120.16 and a low of 120.09.
USD/JPY is trading sideways on the 120 handle while Japan remains out on holiday until Thursday for Golden week and markets are thin, sitting on their hands awaiting the RBA decision later today and for further events in the US market, Fedspeak and, of course, the Nonfarm Payrolls data on Friday in the US.
Technically, the Yen is sitting below and above break out points within the familiar ranges of ranges. We have the 120.10 resistance at play here while the downside is protected by the 118.33 March low. If we are to see a break of the 121 handle and on to 121.80 then above there we have the 14 year down trend at 122.20 to contend with while the downside range extends right down to the Feb lows at 116.64.
USD/JPY is trading sideways on the 120 handle while Japan remains out on holiday until Thursday for Golden week and markets are thin, sitting on their hands awaiting the RBA decision later today and for further events in the US market, Fedspeak and, of course, the Nonfarm Payrolls data on Friday in the US.
Technically, the Yen is sitting below and above break out points within the familiar ranges of ranges. We have the 120.10 resistance at play here while the downside is protected by the 118.33 March low. If we are to see a break of the 121 handle and on to 121.80 then above there we have the 14 year down trend at 122.20 to contend with while the downside range extends right down to the Feb lows at 116.64.