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18 Mar 2015
USD/JPY: Minor recovery post battering to March lows
FXStreet (Guatemala) - USD/JPY is currently trading at 119.90 with a high of 121.41 and a low of 119.28.
USD/JPY has plummeted down through the 120's while meeting the aforementioned lows, marking over a 2 cent decline in the US shift. The greenback has been in supply leading in to and post a dovish FOMC this week, but in the US close, the dollar was wiped off the board with massive losses, especially through cable and the euro.
The market is reigning in the longs as time passes by while there is still a mixed outlook coming from the Fed. Although June is still a possibility that Yellen wasn't ruling out in her Q&A session earlier, bets are reducing for action in the near future and weighted back on to September. Technically, the major is heading towards the Feb 16th low at 118.11 should 119.09 give, explained Karen Jones, chief analyst at Commerzbank.
USD/JPY has plummeted down through the 120's while meeting the aforementioned lows, marking over a 2 cent decline in the US shift. The greenback has been in supply leading in to and post a dovish FOMC this week, but in the US close, the dollar was wiped off the board with massive losses, especially through cable and the euro.
The market is reigning in the longs as time passes by while there is still a mixed outlook coming from the Fed. Although June is still a possibility that Yellen wasn't ruling out in her Q&A session earlier, bets are reducing for action in the near future and weighted back on to September. Technically, the major is heading towards the Feb 16th low at 118.11 should 119.09 give, explained Karen Jones, chief analyst at Commerzbank.