You have no items in your cart.
USD/JPY – Fresh High’s Ahead?
USD/JPY has remained near its multi- year highs retracing only mildly after hitting 116.00 several days ago. The Japanese monetary authorities continue to pressure the yen as they remains wholly committed to further accommodation and balance sheet expansion. However, the next leg of the trade may be US driven if the data from North America continues to support the thesis of US out performance. Today’s decent Walmart numbers may be a positive precursor to tomorrow’s US Retail Sales figures as the pick up in jobs and wages along with sharp decline in oil prices may be finally translating into robust consumer demand and ultimately higher US yields which should help the pair. Therefore, a beat in the data tomorrow could result in yet more multi year highs in USD/JPY.
USD/JPY has clearly ran into a bi of resistance at the 116.00 level but a break higher could open a run towards 118.00 while a failure could pull the pair all the way to fill the gap open at 112.50