USD JPY JPY reclaims stability
9/8/2016 8:42:37 AM
Having failed several efforts to expand recovery above 20-DMA, USD/JPY dropped deeper into losses as the JPY gained across the board in reaction to BOJ deputy governor’s comments. The JPY regains momentum and expands higher against USD, sending USD/JPY back towards two-week troughs reached yesterday at 101.19. The JPY expanded gains after BOJ official Nakaso made efforts to restrain risks to the 2% price target, therefore, making a case for no BOJ easing action at the policy meeting later this month. Furthermore, fresh selling in the Japanese stocks can be partly ascribed to the latest leg lower in the USD/JPY pair. At the time of writing, USD/JPY moved-off lows to trade around 101.55, still down -0.20% on the day, while the Nikkei 225 fells -0.88% to 16,870 levels. In technical view, the immediate persistence is placed at 101.90. A break above the last, the major could test 102.55. While to the downside, the immediate support is seen at 101.19 and below that at 101.
Fundamental Analysis by
https://www.fxervin.com/
https://www.facebook.com/FxErvin/
