Forex: USD/JPY back to 90.00 mark
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USD/JPY
FXstreet.com (Barcelona) - The USDJPY has been poking the 90.00 psychological level since late Thursday US session and found a new high at 90.21 during the Asian shift, allowing then a corrective move lower to 89.69 during European time. Since then, the pair rebounded and has traded back to 90.00.
The weaker Yen on the Asian session was triggered by PM Abe's economic adviser Hamada words suggesting that the line in the sand had been drawn at 110, while 95-100 was "nothing to worry about". The NY session comes ahead, with Reuters/Michigan Consumer Sentiment preliminary data attracting market attention as consensus points to a rise from 72.9 to 75.0 in January.
"The uptrend here is absolutely intact and current pullback below 90.20 peak should be considered corrective in nature, preceding next wave upwards, to 91.80", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday support at 89.55.
The weaker Yen on the Asian session was triggered by PM Abe's economic adviser Hamada words suggesting that the line in the sand had been drawn at 110, while 95-100 was "nothing to worry about". The NY session comes ahead, with Reuters/Michigan Consumer Sentiment preliminary data attracting market attention as consensus points to a rise from 72.9 to 75.0 in January.
"The uptrend here is absolutely intact and current pullback below 90.20 peak should be considered corrective in nature, preceding next wave upwards, to 91.80", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday support at 89.55.
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