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27 Mar 2015
USD/JPY consolidates above 119.00
FXStreet (Edinburgh) - The greenback is now attempting a consolidation pattern vs. the Japanese currency, taking USD/JPY to the area of 119.15/20.
USD/JPY focus on Yellen
The pair is coming up from recent lows in the area of 118.90 and retaking the 119.00 handle along with a recovery in UST yields and the greenback, in term of the US Dollar Index.
Spot is closing its second consecutive week with losses so far, with the downside intensified after the unexpected dovish turn from the FOMC last week. Ahead in the session, the only event left is the speech by Janet Yellen, although market participants have almost ruled out any different tone from the one in the last FOMC meeting.
USD/JPY key levels
The pair is now losing 0.02% at 119.15 facing the next support at 118.93 (low Mar.27) ahead of 118.73 (cloud top) and then 118.33 (low Mar.26). On the flip side, a breakout of 119.50 (high Mar.27) would open the door to 119.57 (high Mar.26) and finally 119.83 (high Mar.25).
USD/JPY focus on Yellen
The pair is coming up from recent lows in the area of 118.90 and retaking the 119.00 handle along with a recovery in UST yields and the greenback, in term of the US Dollar Index.
Spot is closing its second consecutive week with losses so far, with the downside intensified after the unexpected dovish turn from the FOMC last week. Ahead in the session, the only event left is the speech by Janet Yellen, although market participants have almost ruled out any different tone from the one in the last FOMC meeting.
USD/JPY key levels
The pair is now losing 0.02% at 119.15 facing the next support at 118.93 (low Mar.27) ahead of 118.73 (cloud top) and then 118.33 (low Mar.26). On the flip side, a breakout of 119.50 (high Mar.27) would open the door to 119.57 (high Mar.26) and finally 119.83 (high Mar.25).