USD/JPY was quite hesitant yesterday. The pair tried to push lower, formed
bottom at 105.62 but closed higher at 106.09. Currently the pair is staying
above 106 mark and hit an intraday high at 106.41 earlier today. In the
short term bulls may try to conquer 106.70 - 107.00 area. On the downside, key
support is located at 106.00 - 105.50 levels.
More clear direction will be set
later on today, as the market is anticipating Federal Open Market
Committee meeting. Still the expectations are
that the monetary policy will not be
changed. Tomorrow the Bank of Japan will decide on monetary
policy and what measures should be taken against the appreciating yen.
No comments:
Post a Comment