17 Feb 2015
USD/JPY: Yen treads water ahead of BOJ
FXStreet (Mumbai) - The yen continued to trade muted in the European session, extending its choppy trend from the Asian session as traders remain wary ahead of Bank of Japan’s (BOJ) monetary policy decision tomorrow.
USD/JPY stuck at 118.50 levels
Currently, the USD/JPY traded flat at 118.51 levels, having previously posted day’s high at 118.64 and day’s low at 118.24. The yen trades cautious versus the greenback as traders refrain to create fresh positions ahead of BOJ statement and US FOMC minutes due for release tomorrow. However, the pair may remain underpinned on increased safe-haven bets amid mounting tensions over Greek situation after the second round of talks between euro zone finance ministers had collapsed.
Meanwhile, traders shift their focus on US housing and manufacturing data to be released later today for further moves on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.72 (50-DMA) levels and above which it could extend gains 119 (10-DMA) levels. To the downside immediate support might be located at 118.34 (20-DMA) levels, below that at 118 levels.
USD/JPY stuck at 118.50 levels
Currently, the USD/JPY traded flat at 118.51 levels, having previously posted day’s high at 118.64 and day’s low at 118.24. The yen trades cautious versus the greenback as traders refrain to create fresh positions ahead of BOJ statement and US FOMC minutes due for release tomorrow. However, the pair may remain underpinned on increased safe-haven bets amid mounting tensions over Greek situation after the second round of talks between euro zone finance ministers had collapsed.
Meanwhile, traders shift their focus on US housing and manufacturing data to be released later today for further moves on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.72 (50-DMA) levels and above which it could extend gains 119 (10-DMA) levels. To the downside immediate support might be located at 118.34 (20-DMA) levels, below that at 118 levels.