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10 Sep 2014
USD/JPY grabs another fresh 6-year high
FXStreet (San Francisco) - After a brief period of consolidation from 106.75 to 106.50, the USD/JPY is pricing a new highs around 106.85 where the pair is finding further selling interest.
The movement is supported by Reuters news that says the BoJ bought 3-month bills at a negative interest rate earlier today. Jamie Coleman from FXBeat commented that it is "the first time that has happened. That should send a message that they are serious about maintaining super-easy monetary policy."
Currently, USD/JPY is trading at 106.63, up 0.41% on the day, having posted a daily high at 106.86 and low at 106.04. USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
USD/JPY sentiment
If the pair manages to extend gains, next resistances lie at 107.00, 107.30 and 107.50. On the downside, supports are at 106.50, 106.00 and 105.70.
The movement is supported by Reuters news that says the BoJ bought 3-month bills at a negative interest rate earlier today. Jamie Coleman from FXBeat commented that it is "the first time that has happened. That should send a message that they are serious about maintaining super-easy monetary policy."
Currently, USD/JPY is trading at 106.63, up 0.41% on the day, having posted a daily high at 106.86 and low at 106.04. USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
USD/JPY sentiment
If the pair manages to extend gains, next resistances lie at 107.00, 107.30 and 107.50. On the downside, supports are at 106.50, 106.00 and 105.70.