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4 Feb 2015
USD/JPY testing 118.00 offers
FXStreet (Bali) - While most of the action in the Forex market occurred outside USD/JPY on Tuesday, Tokyo has been driving the rate higher until reaching 118.00, before a mild retracement.
The pair has been supported by renewed buying interest in the US stock market, with selling of US bonds (yields up), also helping to keep the bid tone in the benchmark Nikkei 225 index.
Jim Langlands, Founder a FXCharts, notes: "I think we should probably expect more of the same choppy action today and that further trade within the mildly descending channel appears likely to continue. The parameters here are at 116.65/118.35."
The pair has been supported by renewed buying interest in the US stock market, with selling of US bonds (yields up), also helping to keep the bid tone in the benchmark Nikkei 225 index.
Jim Langlands, Founder a FXCharts, notes: "I think we should probably expect more of the same choppy action today and that further trade within the mildly descending channel appears likely to continue. The parameters here are at 116.65/118.35."