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Trading news
21 Apr 2015
USD/JPY runs into sellers at session high
FXStreet (Mumbai) - The USD/JPY pair ran into a fresh selling pressure at the session high of 119.78, despite Japanese PM adviser Hamada called for more easing if 2% core inflation cannot be achieved.
Supported by hourly 200-MA
The pair currently trades at its hourly 200-MA located at 119.60 after having declined from the session high of 119.789 levels. A minor uptick of 20-25 pips from 119.60 was seen after the Adviser Hamada called for implementation of more monetary easing in case the core CPI does not move to the intended level of 2% with the existing program.
Meanwhile, the upside has also been capped due to the 10-year Treasury yield, which weakened 1.1 basis points to 1.886%. Similarly, the 30-year yield has also weakened moderately to 2.561%.
USD/JPY Technical Levels
The immediate support is located at 119.60 (hourly 200-MA), under which losses could be extended to 119.10 (hourly 100-MA). On the flip side, a break above 119.91 (50-DMA), could push the pair higher to 120.50-120.70.
Supported by hourly 200-MA
The pair currently trades at its hourly 200-MA located at 119.60 after having declined from the session high of 119.789 levels. A minor uptick of 20-25 pips from 119.60 was seen after the Adviser Hamada called for implementation of more monetary easing in case the core CPI does not move to the intended level of 2% with the existing program.
Meanwhile, the upside has also been capped due to the 10-year Treasury yield, which weakened 1.1 basis points to 1.886%. Similarly, the 30-year yield has also weakened moderately to 2.561%.
USD/JPY Technical Levels
The immediate support is located at 119.60 (hourly 200-MA), under which losses could be extended to 119.10 (hourly 100-MA). On the flip side, a break above 119.91 (50-DMA), could push the pair higher to 120.50-120.70.