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27 Mar 2015
USD/JPY: Steadying out at 55 DMA
FXStreet (Guatemala) - USD/JPY is currently trading at 119.23 with a high of 119.30 and a low of 119.13.
USD/JPY is settled around 119.20 and the EMA 20 / 55 DMA and travelling in neutral. The major has been re-grouping post the fierce decent that left the 119 handle behind right down in to the depths of the 118.30's. That became easy pickings for the bulls overnight as the greenback came in to demand, especially through the euro with offers at 1.1050.
Fundamentally, data wise, we are short of much action. Before the Tokyo open, Japan spread a number of releases across the table, which however drew little reaction in the market on the open. The key national CPI y/y excluding Fresh Food for February came in at 2.0% y/y. Technically, the major is vulnerable to the downside below the 118.11 February 16 low and that exposes the February low at 116.64.
USD/JPY is settled around 119.20 and the EMA 20 / 55 DMA and travelling in neutral. The major has been re-grouping post the fierce decent that left the 119 handle behind right down in to the depths of the 118.30's. That became easy pickings for the bulls overnight as the greenback came in to demand, especially through the euro with offers at 1.1050.
Fundamentally, data wise, we are short of much action. Before the Tokyo open, Japan spread a number of releases across the table, which however drew little reaction in the market on the open. The key national CPI y/y excluding Fresh Food for February came in at 2.0% y/y. Technically, the major is vulnerable to the downside below the 118.11 February 16 low and that exposes the February low at 116.64.