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27 Nov 2013
USD/JPY higher despite a weak dollar
FXstreet.com (London) - The JPY is under-performing broadly and the dollar is weaker against most major currencies but stronger against the yen.
“The comments from BOJ MPC member Sayuri Shirai are worth noting. In a speech to business leaders in Tokushima city, she stated that the BOJ would find it difficult to reach its 2% inflation target and that the risks were clearly to the downside, which may require the BOJ to ease its monetary stance again in order to maintain credibility”, explained Lee Hardman, strangest at Bank of Tokyo Mitsubishi. With the BOJ easing aggressively already the prospect of additional easing is more likely to have an influence on the yen.
USD/JPY Levels
The 20 DMA is 99.61, the 50 DMA is 98.67 and the 200 DMA is 98.16. RSI (14) reads 66.38. Supports are ascending from 100.43, 100.62, 100.90, 101.14,
101.40. Spot is 101.78 while resistances are 101.91, 102.59 and 103.00.
“The comments from BOJ MPC member Sayuri Shirai are worth noting. In a speech to business leaders in Tokushima city, she stated that the BOJ would find it difficult to reach its 2% inflation target and that the risks were clearly to the downside, which may require the BOJ to ease its monetary stance again in order to maintain credibility”, explained Lee Hardman, strangest at Bank of Tokyo Mitsubishi. With the BOJ easing aggressively already the prospect of additional easing is more likely to have an influence on the yen.
USD/JPY Levels
The 20 DMA is 99.61, the 50 DMA is 98.67 and the 200 DMA is 98.16. RSI (14) reads 66.38. Supports are ascending from 100.43, 100.62, 100.90, 101.14,
101.40. Spot is 101.78 while resistances are 101.91, 102.59 and 103.00.