Forex: USD/JPY in fresh highs around 89.60
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USD/JPY
FXstreet.com (Barcelona) - The Japanese yen has resumed its depreciation against the greenback on Thursday, following dovish comments by Deputy Economy Minister Nishimura, hinting that further correction lower is lying ahead for the JPY.
"USDJPY is back above 89 indicating that there is still a strong bias in the market for selling yen and that the slightly disappointing BoJ meeting should not be seen as a trigger of a trend reversal", signalled S.Roed-Frederiksen, Senior Analyst at Danske Bank.
At the moment, USDJPY is advancing 1.05% at 89.55 with the next resistance at 90.18 (high Jan.22) en route to 90.25 (2013 high Jan.21) and then 90.56 (Upper Bollinger).
On the flip side, a breakdown of 88.17 (MA21d) would expose 88.07 (low Jan.23) and finally 87.79 (low Jan.16).
"USDJPY is back above 89 indicating that there is still a strong bias in the market for selling yen and that the slightly disappointing BoJ meeting should not be seen as a trigger of a trend reversal", signalled S.Roed-Frederiksen, Senior Analyst at Danske Bank.
At the moment, USDJPY is advancing 1.05% at 89.55 with the next resistance at 90.18 (high Jan.22) en route to 90.25 (2013 high Jan.21) and then 90.56 (Upper Bollinger).
On the flip side, a breakdown of 88.17 (MA21d) would expose 88.07 (low Jan.23) and finally 87.79 (low Jan.16).
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