Forex: USD/JPY trades range ahead of US data
Forex pairs in this Article »
USD/JPY
FXstreet.com (Barcelona) - Following a move higher off overnight lows at 78.58, USDJPY made a morning high at 78.65 before retracing to 78.60.
The pair has ranged throughout the European session and remained largely unaffected by the body of mixed economic data. With the US economic agenda due to kick off at 12:30 GMT a pickup in activity can be anticipated. The technical analysis team at Ace Traders feel that "despite yesterdays cross-inspired rebound to 78.79 in NY morning, the intraday retreat suggests USD would continue to gyrate inside established broad range of 78.28-78.84 with mild downside bias."
Elsewhere, European Equities remain down alongside Us futures whilst commodities pick up and Spanish and Italian yields remain elevated but stable.
The pair has ranged throughout the European session and remained largely unaffected by the body of mixed economic data. With the US economic agenda due to kick off at 12:30 GMT a pickup in activity can be anticipated. The technical analysis team at Ace Traders feel that "despite yesterdays cross-inspired rebound to 78.79 in NY morning, the intraday retreat suggests USD would continue to gyrate inside established broad range of 78.28-78.84 with mild downside bias."
Elsewhere, European Equities remain down alongside Us futures whilst commodities pick up and Spanish and Italian yields remain elevated but stable.
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