Forex: USD/JPY: further sideways sub-83.00 seen, anticipated
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USD/JPY
FXstreet.com (San Francisco) - USDJPY remains largely range bound ahead of Japan's December 16th election and BoJ decision at next week's policy meeting, when rumor has it that the central bank may announce new easing (adding another JPY 5-10T to its QE program).
From Valeria Bednarik, Chief Analyst at FXstreet.com: "The hourly chart shows technical readings mostly flat showing no actual strength, with 81.50/82.80 as the extremes to break to set a clearer trend in the pair, and a break seems not likely until Wednesday, when FOMC meeting may rock market."
Spot now stands around 82.40 as markets in Tokyo and Sydney prepare to open within the hour. Ahead of the mentioned 81.80 and 81.50 levels, bearish targets lie at 82.10, while resistance levels are noted at 82.30, 82.60 and 82.85.
From Valeria Bednarik, Chief Analyst at FXstreet.com: "The hourly chart shows technical readings mostly flat showing no actual strength, with 81.50/82.80 as the extremes to break to set a clearer trend in the pair, and a break seems not likely until Wednesday, when FOMC meeting may rock market."
Spot now stands around 82.40 as markets in Tokyo and Sydney prepare to open within the hour. Ahead of the mentioned 81.80 and 81.50 levels, bearish targets lie at 82.10, while resistance levels are noted at 82.30, 82.60 and 82.85.
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