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15 Dec 2014
USD/JPY back onto the bid up to 119.08
FXStreet (Guatemala) - USD/JPY is up 0.20% on the day at 118.88, having previously posted a daily high at 119.08 and a low at 117.78.
USD/JPY has indeed found buyers in for a cheap ride as the Yen starts to take a hit on the bid and runs into the 119 handle as resistance. The immediate reaction in the pair to Abe’s victory was a slight bid until more liquidity came into Asia and a sell fact trade off took place. However, this was short lived and the Yen is back in supply, which fundamentally agrees with the prospects of a continuation Abenomics.
The climb has been steady and convincing while we now await European markets and the US to be the deciding factor at the start of the week for the pair. Looking ahead, we have the US data to contend with which brings CPI and the final FOMC for the year.
USD/JPY has indeed found buyers in for a cheap ride as the Yen starts to take a hit on the bid and runs into the 119 handle as resistance. The immediate reaction in the pair to Abe’s victory was a slight bid until more liquidity came into Asia and a sell fact trade off took place. However, this was short lived and the Yen is back in supply, which fundamentally agrees with the prospects of a continuation Abenomics.
The climb has been steady and convincing while we now await European markets and the US to be the deciding factor at the start of the week for the pair. Looking ahead, we have the US data to contend with which brings CPI and the final FOMC for the year.