Forex: USD/JPY mostly unchanged, US data could inspire action
Forex pairs in this Article »
USD/JPY
FXstreet.com (San Francisco) - 'Consolidation' remains the name of the game for USDJPY as spot continues to trade sideways above the 79.00 mark and below 79.60; "Either extreme needs to give up to give a clearer picture of what's next for USDJPY," says Valeria Bednarik, Chief Analyst at FXstreet.com.
According to Kathy Lien, Managing Director BK Asset Management, the pair may look for help from US retail sales and Fed minutes later in the global day: "If retail sales beat expectations, it could simultaneously lift USDJPY and risk appetite," she explains. "Unless the minutes reveal a more heated discussion about the improvements in the U.S. economy, we don't expect the FOMC minutes to provide much help for USDJPY."
USDJPY holds a slight bid tone in Asia, last at 79.50. Ms. Bednarik identifies support levels at 79.20, the mentioned 79.00 figure, and 78.80, while, beyond the mentioned 79.60 mark, bullish targets are noted at 79.80 and 80.05.
According to Kathy Lien, Managing Director BK Asset Management, the pair may look for help from US retail sales and Fed minutes later in the global day: "If retail sales beat expectations, it could simultaneously lift USDJPY and risk appetite," she explains. "Unless the minutes reveal a more heated discussion about the improvements in the U.S. economy, we don't expect the FOMC minutes to provide much help for USDJPY."
USDJPY holds a slight bid tone in Asia, last at 79.50. Ms. Bednarik identifies support levels at 79.20, the mentioned 79.00 figure, and 78.80, while, beyond the mentioned 79.60 mark, bullish targets are noted at 79.80 and 80.05.
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