Forex: USD/JPY hits 92.29 high and eases to 92.10 zone
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USD/JPY
FXstreet.com (Barcelona) - Seen by many people as inevitable, the USDJPY resumed its rising ways past the 92.00 figure. The pair first hit a high at 92.27 during the Asian session, but has just extended to 92.29 recently. The area at 92.10/15 seems to be holding the market against a retest of the psychological level at 92.00.
Japan's unemployment rate rose from 4.1% to 4.2% (consensus of -4.1%) in December and vehicle sales contracted further, from -3.4% to -12.9% in January. Overall Household Spending turned contracting, from +0.2% to -0.7% (consensus of -0.3%) in December.
"USDJPY has pushed higher and remain on course for 93.32, the measurement higher from its triangle., it continues to hold over the 240 minute cloud (90.05/89.50 and the Elliot wave count on the intraday chart is implying we have one more leg to 93.00 prior to failure", wrote Commerzbank analyst Karen Jones, looking for cautious gains.
Japan's unemployment rate rose from 4.1% to 4.2% (consensus of -4.1%) in December and vehicle sales contracted further, from -3.4% to -12.9% in January. Overall Household Spending turned contracting, from +0.2% to -0.7% (consensus of -0.3%) in December.
"USDJPY has pushed higher and remain on course for 93.32, the measurement higher from its triangle., it continues to hold over the 240 minute cloud (90.05/89.50 and the Elliot wave count on the intraday chart is implying we have one more leg to 93.00 prior to failure", wrote Commerzbank analyst Karen Jones, looking for cautious gains.
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