Back
12 Nov 2014
USD/JPY knocked down by denial on sales tax delay
FXStreet (Bali) - USD/JPY is trading sharply down following denials to a possible delayed sales tax hike by Japan's chief govt spokesman, with the rate currently at 115.33 after testing offers above 116.00 late on Tuesday.
Japan's chief govt spokesman, via Reuters, denied media reports on sales tax-hike delay, noting that "no change to stance that sales tax decision to come after examining preliminary, revised GDP data."
Technically, Jim Langlands, Founder at FXCharts, notes: "115.00 will be the first support, below which the 100 HMA at 114.85 would be tested. The topside will see sellers today at 115.60 (minor) and then at 115.80 and 116.00/10. I don’t really see it heading above here today but buying dips for an eventual resumption of the uptrend remains the main theme."
Japan's chief govt spokesman, via Reuters, denied media reports on sales tax-hike delay, noting that "no change to stance that sales tax decision to come after examining preliminary, revised GDP data."
Technically, Jim Langlands, Founder at FXCharts, notes: "115.00 will be the first support, below which the 100 HMA at 114.85 would be tested. The topside will see sellers today at 115.60 (minor) and then at 115.80 and 116.00/10. I don’t really see it heading above here today but buying dips for an eventual resumption of the uptrend remains the main theme."