Forex: USD/JPY eyes 83.00 ahead of FOMC
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USD/JPY
FXstreet.com (Barcelona) - The Japanese yen is extending its depreciation against its American counterpart on Wednesday, hovering over the key barrier of 83.00 ahead of the FOMC statement to be released this evening in Europe.
According to analyst Sean Callow at Westpac, "Even larger speculative long positions should mean 83 remains tough nut to crack. Disappointment still looms but probably not before Sunday's election and the BoJ meeting 20 Dec."
At the moment, the cross is up 0.40% at 82.85 with the next resistance at 82.94 (high Apr.4) followed by 82.99 (high Apr.3) and 83.31 (high Apr.2).
On the downside, a break below 82.49 (low Dec.12) would clear the way to 82.31 (low Dec.11) and then 82.12 (low Dec.10).
According to analyst Sean Callow at Westpac, "Even larger speculative long positions should mean 83 remains tough nut to crack. Disappointment still looms but probably not before Sunday's election and the BoJ meeting 20 Dec."
At the moment, the cross is up 0.40% at 82.85 with the next resistance at 82.94 (high Apr.4) followed by 82.99 (high Apr.3) and 83.31 (high Apr.2).
On the downside, a break below 82.49 (low Dec.12) would clear the way to 82.31 (low Dec.11) and then 82.12 (low Dec.10).
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