Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/JPY pauses gains amid fresh intervention fears

• USD/JPY strengthened on Tuesday but gains were  capped by Japan's finance minister warning against speculative yen selling  .

• Japan's Finance Minister Katsunobu Kato warned against speculative yen selling on Tuesday as the currency neared the 160-per-dollar level, which had triggered interventions six months ago..

• Japan last intervened in July to support its currency when it tumbled to a 38-year low below 161 per dollar. 

• Immediate resistance is located at 158.54 (23%fib), any close above will push the pair towards 159.00 (Psychological level).

•  Support is seen at 156.78 (38.2%fib) and break below could take the pair towards 155.52(50%fib).

Recommendation: Good to sell around 158.00, with stop loss of 158.80 and target price of 157.20
 

  • Market Data
Close

Welcome to EconoTimes

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