USD / JPY: The rebound is accentuated with a test of the 101, but how far can go higher before the Minutes of the Fed?
USD / JPY this morning highlights insider rebound yesterday, testing the psychological threshold of 101 with a recent high at 101.14.
Recall that yesterday, the pair fell to a low of 99.53, but the passage under 100.00 had caused a return of buyers and sellers to profit taking, which created a bouncing motion that this endures morning.
However, the threshold of 101 which is currently in the currency could be an obstacle for the moment, because of its technical importance but also because traders await tonight at 20h the minutes of the Fed, which could be very influential the Dollar.
Consolidation between 101.20 and 100.50 could be the most likely scenario in waiting. If new highs above 101.20, the next target will be at 101.50. In case of break below 100.50 support, the support to target are at 100 and 99.50.
USD / JPY this morning highlights insider rebound yesterday, testing the psychological threshold of 101 with a recent high at 101.14.
Recall that yesterday, the pair fell to a low of 99.53, but the passage under 100.00 had caused a return of buyers and sellers to profit taking, which created a bouncing motion that this endures morning.
However, the threshold of 101 which is currently in the currency could be an obstacle for the moment, because of its technical importance but also because traders await tonight at 20h the minutes of the Fed, which could be very influential the Dollar.
Consolidation between 101.20 and 100.50 could be the most likely scenario in waiting. If new highs above 101.20, the next target will be at 101.50. In case of break below 100.50 support, the support to target are at 100 and 99.50.
Currently the USD / JPY moves around 101 forex.