13 Jan 2015
USD/JPY weighing to the downside ahead of 118.20 again
FXStreet (Guatemala) - USD/JPY is trading at 118.28 with a low of 118.17 and a high of 118.50 while down 0.05% on the day.
USD/JPY has opened in Tokyo with a bearish bias and down 30 pips on the Asian session post the trade report. We are in fact down a cent from the European open overnight with the Yen bears squeezed out on poor stocks performances in the US.
118.00 is the level that needs to hold but a break with conviction of 118.20 support could be the catalyst to equip bears with confidence and open up the downside for a look in at December lows yet again on a second major attempt of the major support level. However, not many analysts are betting against the greenback and as before, such levels as low as this in the major have simply been an opportunity to get long this year so far.
USD/JPY has opened in Tokyo with a bearish bias and down 30 pips on the Asian session post the trade report. We are in fact down a cent from the European open overnight with the Yen bears squeezed out on poor stocks performances in the US.
118.00 is the level that needs to hold but a break with conviction of 118.20 support could be the catalyst to equip bears with confidence and open up the downside for a look in at December lows yet again on a second major attempt of the major support level. However, not many analysts are betting against the greenback and as before, such levels as low as this in the major have simply been an opportunity to get long this year so far.