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Forex pairs in this Article » USD/JPY (London) - USD/JPY is oscillating in the region of the highs on the session still at 102.92 currently.

US Markit Manufacturing PMI (Nov) came in at 54.7. Meanwhile, Lee Hardman, currency analyst at The Bank of Tokyo-Mitsubishi UFJ, Ltd suggested the low yielding yen is likely to remain on the defensive as the global growth outlook improves. He also explained that BoJ Governor Kuroda has been speaking
reiterating that the BoJ’s monetary easing is having an impact as intended, and that the BoJ will continue to ease monetary policy until 2.0% inflation is stable. “On the policy front he made the point that the BoJ’s projections for the monetary base expansion until the end of 2014 do not imply a policy time limit, signalling that asset purchases are likely to continue until inflation is stable at 2.0%. Governor Kuroda also wanted the foreign exchange market to remain stable”.

USD/JPY Levels

The 20 DMA is 100.18, the 50 DMA is 98.87 and the 200 DMA is 98.29. RSI (14) reads 75.69. Supports are ascending from 101.43, 101.74, 101.85, 102.12, and 102.65. Spot is 102.92 while resistances are 103.00, 103.57 and 103.74.
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