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Forex pairs in this Article » USD/JPY (Barcelona) - The Japanese Yen has been emboldened in the first hours of Tokyo, with the currency building on recent gains since mid US session, mainly favoured by the strong positive correlation observed with the Nikkei 225.

Earlier in the American trade,pro-taper comments by Fed's Dudley led to a sell-off in US equities, which at the same time, has been followed by liquidation in the Nikkei 225. Technically, the latest slide in the Japanese benchmark index has broken through 15,065 support, opening up further downside towards 14,960. The selling pressure should see Yen crosses under continuous pressure in Asia.

For today, USD/JPY has option expiries at 99.70-75, 100.00, 100.60 in the tune of $500 mln. On the technical side, the topside failure at 100.40, which initially led to a swing low of 99.80 on Monday, has now seen prices dip deeper to 99.60 weekly lows, with no much support now spotted until 99.40 - Nov 7 high - ahead of 99.00/99.10 - Nov 14 low -.
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