Back
15 Dec 2014
USD/JPY breaking to the downside post Abe victory
FXStreet (Guatemala) - Having made a daily high at 118.71 and low at 118.17, USD/JPY spot is down -0.39% on the day and presently trading at 118.18.
USD/JPY has opened within a tight range post Abe’s victory, but in recent moments, the pair has turned south with initial demand for the Yen with small volume attempts to the upside failing.
It is widely expected that the Yen should continue lower on Abe’s Abenomics reform eventually but should the downside surprise us, Karen Jones, chief analyst at Commerzbank explained that losses towards the November 11th high at 116.11 through the 117 handle is within reach and would bring in the 55 day moving average at 113.04.
USD/JPY has opened within a tight range post Abe’s victory, but in recent moments, the pair has turned south with initial demand for the Yen with small volume attempts to the upside failing.
It is widely expected that the Yen should continue lower on Abe’s Abenomics reform eventually but should the downside surprise us, Karen Jones, chief analyst at Commerzbank explained that losses towards the November 11th high at 116.11 through the 117 handle is within reach and would bring in the 55 day moving average at 113.04.