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13 Mar 2015
USD/JPY: A steady ship on relatively calm and familiar waters
FXStreet (Guatemala) - USD/JPY is currently at 121.33 trading with a high of 121.58 and a low of 121.26.
USD/JPY has been relatively quiet amongst other and more active majors. The pair has been oscillating between 121.25 bid and 121.55 offered caught in a range bound space with boundaries that have increased recently. From a steady Asian session and cross over in Europe, the US shift has offered a handful of data coming out in the red with US PPI's weighed on by a stronger dollar and weak oil prices. Consumer confidence was another red result missing expectations and lower than previous.
With the labour market in good shape and under control moving in the right direction, the Fed may well be now start paying particular attention to this inflation data, and although the dollar is strong for now, concerns could escalate around the negative implications that a strong dollar might be starting to have on the US economy, and numbers such as these do not blend well in the mix for a tightening policy. Technically, we remain in familiar grounds within a wide range, 115.50 - 123.30 as key support and resistance at the 7 year down trend.
USD/JPY has been relatively quiet amongst other and more active majors. The pair has been oscillating between 121.25 bid and 121.55 offered caught in a range bound space with boundaries that have increased recently. From a steady Asian session and cross over in Europe, the US shift has offered a handful of data coming out in the red with US PPI's weighed on by a stronger dollar and weak oil prices. Consumer confidence was another red result missing expectations and lower than previous.
With the labour market in good shape and under control moving in the right direction, the Fed may well be now start paying particular attention to this inflation data, and although the dollar is strong for now, concerns could escalate around the negative implications that a strong dollar might be starting to have on the US economy, and numbers such as these do not blend well in the mix for a tightening policy. Technically, we remain in familiar grounds within a wide range, 115.50 - 123.30 as key support and resistance at the 7 year down trend.