Forex: USD/JPY at 90.50, capped at 90.66 high
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USD/JPY
FXstreet.com (Barcelona) - The USDJPY correction lower seems to have ended since the market broke above the pre-BoJ announcement high at 90.25. The pair kept running upwardly and Yen weakness is to blame, printing a high at 90.66 during Asian session.
Such currency weakness has been also affecting Japan's equity prices, with the Nikkei Stock Average being in its longest-ever weekly winning streak, for the 11th week in a row. As of writing, the USDJPY trades at 90.50, supported at 90.45/50.
Our target remains 93.32 - the measurement higher of the triangle, which completed in December 2012", wrote Commerzbank analyst Karen Jones, noting that technical signals remain positive and there is a strong buy signal on the daily DMI, which has been in evidence since October 2012".
Such currency weakness has been also affecting Japan's equity prices, with the Nikkei Stock Average being in its longest-ever weekly winning streak, for the 11th week in a row. As of writing, the USDJPY trades at 90.50, supported at 90.45/50.
Our target remains 93.32 - the measurement higher of the triangle, which completed in December 2012", wrote Commerzbank analyst Karen Jones, noting that technical signals remain positive and there is a strong buy signal on the daily DMI, which has been in evidence since October 2012".
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