Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/JPY gaining momentum for a move towards 151.00 level

• USD/JPY strengthened on Tuesday  as Japanese yen weakened amid risk-on sentiment spurred by Wall Street's gains overnight.

• Looking ahead, the Bank of Japan is expected to keep interest rates unchanged on Wednesday while assessing the risks that the escalating U.S. trade war poses to Japan’s export-driven economy.

•  The BOJ is set to maintain its short-term policy rate at 0.5% at a two-day meeting that ends on Wednesday.

•  At GMT 06.26,the dollar was up  0.46% at 149.82 against Japanese yen .
 
•  Immediate resistance is located at 15000 (Psychological level), any close above will push the pair towards 150.78(50%fib).

• Support is seen at 149.28(38.2%fib) and break below could take the pair towards 147.37(23.6%fib ).

Recommendation: Good to buy around 149.70, with stop loss of 149.00 and target price of 151.00
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.