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24 Dec 2014
USD/JPY drifting away from highs down to 120.50
FXStreet (Guatemala) - USD/JPY is trading at 120.54, down -0.21% on the day, having posted a daily high at 120.83 and low at 120.47.
USD/JPY is taking a back seat after a well bid period overnight with the greenback making tracks to new highs across the board. The pair is offered away from the 120.80 resistance area down to the mid point of the handle in a steady drift.
The greenback was in demand again in the last sessions ahead of the Christmas holidays and subsequent to a mix of last minute data with GDP being the dominant and most positive surprise for Q3 USA. The remaining days of the week will deliver us a number of Japanese risk events over thin trading. Kuroda speaks over Christmas and Japanese CPI is also released. Meanwhile, Karen Jones chief analyst at Commerzbank suggested that intraday dips are indicated to hold circa 118.65/15 for another run up to the 121.86 recent peak.
USD/JPY is taking a back seat after a well bid period overnight with the greenback making tracks to new highs across the board. The pair is offered away from the 120.80 resistance area down to the mid point of the handle in a steady drift.
The greenback was in demand again in the last sessions ahead of the Christmas holidays and subsequent to a mix of last minute data with GDP being the dominant and most positive surprise for Q3 USA. The remaining days of the week will deliver us a number of Japanese risk events over thin trading. Kuroda speaks over Christmas and Japanese CPI is also released. Meanwhile, Karen Jones chief analyst at Commerzbank suggested that intraday dips are indicated to hold circa 118.65/15 for another run up to the 121.86 recent peak.