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27 Mar 2015
USD/JPY: consolidation with an upside bias – AceTrader
FXStreet (Barcelona) - The AceTrader Team believes that the recent price action for USD/JPY suggests that the pair might consolidate with an upside bias into the Asian and European session.
Key Quotes
“Intra-day rebound from 119.06 suggests consolidation with upside bias remains in Asia n Europe, therefore, trading the dlr on dips is recommended. In NY session, investors should close attention to the release of revision to U.S. Q4 GDP, PCE and University of Michigan consumer sentiment.”
“Last but not least, market should watch out for the speech by Fed chair Janey Yellen who will speak on "Monetary Policy," before the Federal Reserve Bank of San Francisco Conference at 19:45GMT as dovsih comments from her may spark off another round of dlr selling which may spill into Monday's NZ morning session.”
“At the moment, bids are noted at 119.20-10 and then 119.00 with mixture of bids and stops located just below 118.80.”
“On the upside, offers are placed at 119.50-60 and around 119.80 with stops emerging just above 120.00.”
Key Quotes
“Intra-day rebound from 119.06 suggests consolidation with upside bias remains in Asia n Europe, therefore, trading the dlr on dips is recommended. In NY session, investors should close attention to the release of revision to U.S. Q4 GDP, PCE and University of Michigan consumer sentiment.”
“Last but not least, market should watch out for the speech by Fed chair Janey Yellen who will speak on "Monetary Policy," before the Federal Reserve Bank of San Francisco Conference at 19:45GMT as dovsih comments from her may spark off another round of dlr selling which may spill into Monday's NZ morning session.”
“At the moment, bids are noted at 119.20-10 and then 119.00 with mixture of bids and stops located just below 118.80.”
“On the upside, offers are placed at 119.50-60 and around 119.80 with stops emerging just above 120.00.”