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16 Jan 2015
USD/JPY headwinds pressure towards psychological 116.00
FXStreet (Guatemala) - USD/JPY is currently trading at with a high of and a low of and down 0.10% on the day.
USD/JPY is steady in Tokyo, with the Nikkei opening sub 16,800 and the Yen remaining with a bullish bias. The events overnight have been with the SNB shock abandonment of their vow to support the EUR/CHF floor at 1.2000. This lead to huge market turmoil, unprecedented moves across the board in the CHF and has benefited the Yen as a safe haven currency where otherwise, it costs investors even more money to park cash in Switzerland.
USD/JPY has lost the ground from just shy of the 118 handle as a result when it slid initially down to 117.00 before a further bout of supply that took the pair down to 116.20. A minor bounce there has the pair back onto the 117 handle only to drop again to current trading levels. The pair however remains in familiar ranges, and 116 is the psychological barrier ahead of Dec lows at 115.56.
USD/JPY is steady in Tokyo, with the Nikkei opening sub 16,800 and the Yen remaining with a bullish bias. The events overnight have been with the SNB shock abandonment of their vow to support the EUR/CHF floor at 1.2000. This lead to huge market turmoil, unprecedented moves across the board in the CHF and has benefited the Yen as a safe haven currency where otherwise, it costs investors even more money to park cash in Switzerland.
USD/JPY has lost the ground from just shy of the 118 handle as a result when it slid initially down to 117.00 before a further bout of supply that took the pair down to 116.20. A minor bounce there has the pair back onto the 117 handle only to drop again to current trading levels. The pair however remains in familiar ranges, and 116 is the psychological barrier ahead of Dec lows at 115.56.