23 Dec 2014
USD/JPY consolidating the demand on the 120 handle
FXStreet (Guatemala) - USD/JPY is trading at 120.70, up 0.52% on the day, having posted a daily high at 120.82 and low at 119.96.
USD/JPY has been moving up on the 120 handle and an initial 25 pip spike was triggered and then, subsequent of that, on the back of the US 3Q GDP data, the pair continued to move up to make fresh 2-week highs.
At this point we were meeting supply and moving into a phase of consolidation, which has then met with demand for the greenback again. Further positive data has been released in the form of the Michigan consumer sentiment index that read 93.6 vs 93.5 and the highest since January 2007, setting the tone to positive for the rest of the year.
USD/JPY has been moving up on the 120 handle and an initial 25 pip spike was triggered and then, subsequent of that, on the back of the US 3Q GDP data, the pair continued to move up to make fresh 2-week highs.
At this point we were meeting supply and moving into a phase of consolidation, which has then met with demand for the greenback again. Further positive data has been released in the form of the Michigan consumer sentiment index that read 93.6 vs 93.5 and the highest since January 2007, setting the tone to positive for the rest of the year.