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17 Mar 2015
USD/JPY sidelined around 121.40
FXStreet (Edinburgh) - The US dollar recovered the ground lost on Tuesday, with USD/JPY bouncing off daily lows around 121.15/10.
USD/JPY attention to the FOMC
Spot followed a negative trend since early trade in Asia, paying little attention to the steady stance from Governor Kuroda in today’s BoJ meeting. Of note, however, were his appreciations that domestic consumer prices could drop to the negative ground helped by the downside in crude oil prices.
Next of note in Japan will be the trade balance figures during the last month followed by the BoJ Monthly Economic Survey. Across the Pacific, the most relevant event will be the FOMC meeting.
USD/JPY levels to consider
The pair is now up 0.03% at 121.38 with the initial hurdle at 121.53 (high Mar.17) ahead of 121.67 (high Mar.12) and finally 122.04 (2015 high Mar.10). On the downside, a breach of 121.09 (low Mar.16) would open the door to 120.83 (Tenkan Sen) and then 120.66 (low Mar.12).
USD/JPY attention to the FOMC
Spot followed a negative trend since early trade in Asia, paying little attention to the steady stance from Governor Kuroda in today’s BoJ meeting. Of note, however, were his appreciations that domestic consumer prices could drop to the negative ground helped by the downside in crude oil prices.
Next of note in Japan will be the trade balance figures during the last month followed by the BoJ Monthly Economic Survey. Across the Pacific, the most relevant event will be the FOMC meeting.
USD/JPY levels to consider
The pair is now up 0.03% at 121.38 with the initial hurdle at 121.53 (high Mar.17) ahead of 121.67 (high Mar.12) and finally 122.04 (2015 high Mar.10). On the downside, a breach of 121.09 (low Mar.16) would open the door to 120.83 (Tenkan Sen) and then 120.66 (low Mar.12).