Forex: USD/JPY retraces Asian opening losses
Forex pairs in this Article »
USD/JPY
FXstreet.com (Barcelona) - Asian markets, including Tokio's Nikkei, fell as it opened on disappointment from ECB's Draghi rhetoric on Thursday and sent the greenback and Yen to extend gains. The risk-off attitude benefits the JPY the most, weakening the USDJPY from 78.25 to 78.07 low.
However, the pair bounced back during the session and was able to even spike up to 78.28 ahead of the European morning. In a longer perspective, the USDJPY continues its sideways movement since July 23, mostly held by 78.00 psychological level and topping at 78.67 at most.
"In the near term, we expect another test of the 77.65 support", wrote Deltastock.com analyst Stoyan Mihaylov, pointing then to 76.50, but the longer term favors the upside to 80.00.
However, the pair bounced back during the session and was able to even spike up to 78.28 ahead of the European morning. In a longer perspective, the USDJPY continues its sideways movement since July 23, mostly held by 78.00 psychological level and topping at 78.67 at most.
"In the near term, we expect another test of the 77.65 support", wrote Deltastock.com analyst Stoyan Mihaylov, pointing then to 76.50, but the longer term favors the upside to 80.00.
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