17 Mar 2015
USD/JPY: Quiet in Tokyo ahead of Central Banks
FXStreet (Guatemala) - USD/JPY is currently trading at 121.38 with a high of 121.45 and a low of 121.39.
USD/JPY is in a tight range moving along in a drift along the charts and directionless as we await events to kick in and dictate the course of action for the week. First up we have the RBA minutes, then we have the BoJ statement a little later on, and then further in tot he week we have the FOMC showdown that is likely to be the key driver this week.
Meanwhile, we are still in the familiar ranges with the 122 handle acting as strong resistance with a number of key areas there to contend with on any upside moves. The 122.33 15-year downtrend is the first hurdle. To the downside, the mid point of the 120 handle would mark first key support ahead of the Feb lows of 118.11.
USD/JPY is in a tight range moving along in a drift along the charts and directionless as we await events to kick in and dictate the course of action for the week. First up we have the RBA minutes, then we have the BoJ statement a little later on, and then further in tot he week we have the FOMC showdown that is likely to be the key driver this week.
Meanwhile, we are still in the familiar ranges with the 122 handle acting as strong resistance with a number of key areas there to contend with on any upside moves. The 122.33 15-year downtrend is the first hurdle. To the downside, the mid point of the 120 handle would mark first key support ahead of the Feb lows of 118.11.