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15 Jan 2015
USD/JPY is a chop around the 117 handle
FXStreet (Guatemala) - USD/JPY is currently trading at 116.96 with a high of 117.96 and a low of 116.24 and down 0.29% on the day.
USD/JPY has been a chop around the 117 handle over the past few hours since the drop from the region of the 117.80 resistance. The Yen has benefitted on risk aversion as markets soak up the SNB moves to cut the floor of EUR/CHF. The low of 116.24 was short lived and a push through 117.20 was achieved on the minor recovery as the greenback starts to become bid over the recent events.
Meanwhile, from a technical standpoint, the pair USD/JPY has sold off aggressively and Karen Jones, chief analyst at Commerzbank explained the risk remains for losses to 115.55/50 (Mid December low and the 38.2% retracement). Below here would introduce scope for a retracement towards 113.50/111.55.
USD/JPY has been a chop around the 117 handle over the past few hours since the drop from the region of the 117.80 resistance. The Yen has benefitted on risk aversion as markets soak up the SNB moves to cut the floor of EUR/CHF. The low of 116.24 was short lived and a push through 117.20 was achieved on the minor recovery as the greenback starts to become bid over the recent events.
Meanwhile, from a technical standpoint, the pair USD/JPY has sold off aggressively and Karen Jones, chief analyst at Commerzbank explained the risk remains for losses to 115.55/50 (Mid December low and the 38.2% retracement). Below here would introduce scope for a retracement towards 113.50/111.55.