Filed Under:
Forex pairs in this Article » USD/JPY (Barcelona) - USD/JPY traders are dealing with the reality that no matter how dovish Bernanke and Yellen may be, Prime Minister Abe and his cohorts are likely to out duel them in the Battle of the Doves.

USD/JPY to continue to heed Fed-Head musings in addition to data flow Thursday

USD/JPY enters the new week in full bull mode – at least for the short-term. That it is rising this much even in the face of Bernanke / Yellen chatter last week is a testament to just how awfully weak the Yen is versus just about every other currency.

USD/JPY traders will be reacting Monday to the US Net Long-Term TIC flows and the US NAHB Housing Market Index due out during the US session.

Technical outlook for USD/JPY

Technicians say USD/JPY now appears set to move to at least the macro “correction resistance” at the 100.71 to 101.5 range. They say support for the cross comes in at last Tuesday and Wednesday’s lows at 99.09 and is followed up by the 11/7 close at 98.07.
comments powered by Disqus