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17 Jun 2013
USD/JPY erases daily gains; breaks through 94.50
FXstreet.com (Barcelona) - The USD/JPY was unable to hold at day highs and after a head-fake through 95.10, sellers stepped in to send the price all the way down to 94.28, lowest since the last Asian session.
USD/JPY still looking heavy
After falling for the last 4 days of trading last week, and with today's gains being largely wiped out by the latest sell-off seen in late NY trade, the Yen still looks poised to rule this market in the short term. However, the critical test for bull will be whether or not they can hold the 93.90/94.00 area, with a close below hinting at additional weakness.
Latest FT article on Fed tapering near fails to inspire buyers
An article published by the FT about the Fed being close to cut its $85-bn-a-month asset-purchase program has failed to act as catalyst to strengthen the USD/JPY, an occurrence which should not be overlooked. When price moves fail to obey fundamentals, it sometimes provides clues about the direction the market aims.
USD/JPY still looking heavy
After falling for the last 4 days of trading last week, and with today's gains being largely wiped out by the latest sell-off seen in late NY trade, the Yen still looks poised to rule this market in the short term. However, the critical test for bull will be whether or not they can hold the 93.90/94.00 area, with a close below hinting at additional weakness.
Latest FT article on Fed tapering near fails to inspire buyers
An article published by the FT about the Fed being close to cut its $85-bn-a-month asset-purchase program has failed to act as catalyst to strengthen the USD/JPY, an occurrence which should not be overlooked. When price moves fail to obey fundamentals, it sometimes provides clues about the direction the market aims.