USD/JPY Pair Is Trading Above 115.50

Published 20-01-2015, 01:07 pm

Drop in the Shanghai stock market contribute to buying yen. As far as now risk interest falls, any doubt can lead to reduction of positions - state Credit Agricole and Bloomberg.

USD / JPY prospects

On Friday, the US dollar strengthened. However, despite this, the USD / JPY pair is not ready to go above 118, where converge weekly PP and 55-day SMA. If after reaching resistance level the fall resumes, it will be limited by the level of correction – 38.2%, October-December rally - at 115.48. In the area of 1116.48 / 115.84 is the accumulation of weekly supports and monthly S1 levels.

Traders’ spirits

USDJPY Daily Chart

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