FxWirePro: Fresh round of selling in European equities buoys JPY, USD/JPY retraces gains
USD/JPY had earlier in Asia hit session highs at 121.40 retracing more than half of the fall from 125.28 (Aug 12 high) to 116.08 (Aug 24 low) A fresh round of selling in European indexes has taken the Japanese Yen to its…
USD/JPY had earlier in Asia hit session highs at 121.40 retracing more than half of the fall from 125.28 (Aug 12 high) to 116.08 (Aug 24 low)
A fresh round of selling in European indexes has taken the Japanese Yen to its highest on the day vs the US Dollar
USD/JPY has retraced day's gains and currently trades muted at 120.84, 4h Tenkan-Sen at 120.58 likely to provide support
Due later in the day are US personal income and spending data, an upbeat figure, coupled with upbeat equity markets could be read as positive for the US dollar
Resistances on the upside are seen at 121.00 (psychological level) and further at 121.49 (4H 55 EMA)
