15 Sept 2014 USD/JPY Analysis


USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, USD/JPY stays below 107.4

USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Resistance nears as the pair opens in consolidation mode

USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Closest support at 106.94 if 107.19 holds as price resistance

While the bullish trend is strong for the overall movement of the Yen against the greenback, the lack of strong economic indicator and sentiment from either country looks to keep the gains for this pair limited for the time being. FOMC economic projections later this week, plus the BOJ’s Governor Haruhiko Kuroda 2 speeches this week may be the pacesetters for speculators in the market. On the H4 timeframe, USDJPY has not traded below the 55 moving average since first week of Sept and looks to continue its bullish outlook. A retrace towards 106.4 will be a good entry consideration for buyers of this pair on the swing.

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