OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY returns to the downside below key 92.20

With Tokyo traders back from their lunch break, markets are seeing another short run in risk aversion, selling Nikkei down -1.93% for the day so far around the 11435 points mark, Hang-Seng -0.91%, and Australian ASX -0.71%, following the -1.83% fall in SP500 and -4.53% in US 10 year bond yields, printing fresh 1-month lows to 1.88%. USD/JPY is currently at fresh Tokyo session lows 92.06, below the key level at 92.20, after it bounced from fresh Feb lows at 90.84.

According to Teppei Ino, currency strategist at the Bank of Tokyo-Mitsubishi UFJ cited by Hideyuki Sano for Reuters: "The yen was long overdue for a correction and all it needed was a catalyst. The yen's downtrend may have run its course for the time being," the analyst said, being Yen the strongest currency among majors in last few days, while Euro is the weakest, taking EUR/JPY cross to fresh 1-month lows at 118.70, last at 120.15. All Yen crosses have taken a hit following uncertain Italy elections results, while USD has broken to a fresh 6-month high right below the 82 handle.

Immediate support to the downside for USD/JPY lies at Feb 05 lows 91.95, followed by Feb 01 lows at 91.80, and Jan 30 highs at 91.40. To the upside, closest resistance shows at Feb 15 lows 92.24, followed by Feb 21 lows/recent session highs at 92.75, and Feb 20 lows at 93.10.

Forex Flash: Get ready for the new BoJ's leadership - Nomura

Mr. Kuroda, set to become next head of the BoJ, has been advocating that the BOJ monetary easing has been too little and too late since the early 2000s, Nomura notes.
Read more Previous

Forex: EUR/USD breaks below previous lows

EUR/USD is currently printing fresh 1-month lows at 1.3041, last off 14 pips from mentioned lows, at the time Tokyo traders are back from lunch break, taking Nikkei down -2.34% at the moment, below the 11400 handle. All local markets are in the red, while Gold is flat for the session off fresh weekly highs at $1598, and Oil printed fresh 1-month lows below the $92 mark.
Read more Next
Start livechat