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USD/JPY Range Trading at 121.55 - 121.30 in Europe

Posted by Chris Advincula on Mar 13, 2015 7:01:00 AM

JPY.3.13 resized 600Chart: WorldWideMarkets Alpha Trader

Dollar yen moving sideways confined in a 25 pip range from Asia to Europe.

Large offers at 122.00, some exporter related. Bids at 121.00. 

120.70 is 10-day moving average. 120.66 low posted yesterday after US Retail Sales.

15-year high of Nikkei provided support today.

Option expires at 121.00 and 122.00 for NY cut. Implied vols lower.

Symmetrical Triangle formation on daily chart potential breakout at 121.60 to upside.

Japan Finance Minister Aso: "Cheap oil, weak yen, low interest rates is a good combination for the Japanese economy now."

BOJ Governor Kuroda: "CPI to rise with wages and inflationary expectations."

Topics: $USDJPY, Swiss franc, forex trading, European Session, Fundamental Analysis, Japanese Yen

 

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