Filed Under:
Forex pairs in this Article » USD/JPY (Barcelona) - After the drop below the 20 period moving average on the hourly chart, circa 89.40, during the European morning, the USDJPY kept on easing as the ball got passed to the New York shift. The NY equity market opening helped the USDJPY to extend lower and print a current low at 89.14, and look for support at 89.18 (Friday's close), while with the 100-hour MA at 89.08 and the 89.00 psychological level nearby.

Soon, US President Obama will speak publicly. Later on the day, FOMC members Dudley, Lockhart and Bernanke will also be speaking. Former Fed Vice Chairman defended that the central bank will resume its $85 billion-per-month assets purchases, "at least through midyear and possibly longer".

TD Securities analyst point to carry trading taking place: "The CHF and the JPYtwo of the lowest yielding currenciesare among the underperformers, suggesting a return of the carry trade may be the clearest trend this morning".

"The pair has entered a minor corrective pattern below 89.67 high and my intraday outlook is negative, for a slide towards 88.35 support", wrote analyst Stoyan Mihaylov, positive biased for new highs beyong 90.00 on the senior frames.
comments powered by Disqus