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15 May 2015
USD/JPY little changed near 119.35 on BOJ Kuroda’s comments
FXStreet (Mumbai) - The US dollar remains elevated against the Japanese yen in the mid-Asian session, with USD/JPY keeping the same range below 119.50, as markets shows little reaction to the Bank of Japan (BOJ) Governor Kuroda’s comments as he speak at the Yomiuri International Economic Society Symposium, in Tokyo.
USD/JPY remains below 119.50
Currently, the USD/JPY pair trades higher by 0.17% at 119.37, consolidating below 119.50 levels. USD/JPY keeps gains as the pair remains unresponsive to BOJ Kuroda’s same old reiteration at his speech.
Kuroda notes, “BOJ won't hesitate to adjust monetary policy if price trend changes, warrants action to hit 2% inflation.”
“Japan's price trend is improving steadily. Prices to move in line with boj's commitment to achieve price target at earliest date possible with time frame of around 2 years. There is no doubt that inflation expectations have risen due to QQE.”
The USD/JPY pair edged higher largely as the traders resorted to profit-booking on their USD shorts after the pair dipped below 119 handle and made lows of 118.86 in the previous session. The latest jobs data from the US did little to lift the greenback from near three-month lows.
The dollar index, which measures the currency's strength against its major peers, remains near fresh three month lows at 93.47, up 0.07% on the day.
On the macroeconomic front, a host of US economic data are in store to be released later in the US session, which may direct further moves on the major.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.50 levels and above which it could extend gains 119.61 (50-DMA) levels. To the downside immediate support might be located at119 below that at 118.86 (May 14 Low) levels.
USD/JPY remains below 119.50
Currently, the USD/JPY pair trades higher by 0.17% at 119.37, consolidating below 119.50 levels. USD/JPY keeps gains as the pair remains unresponsive to BOJ Kuroda’s same old reiteration at his speech.
Kuroda notes, “BOJ won't hesitate to adjust monetary policy if price trend changes, warrants action to hit 2% inflation.”
“Japan's price trend is improving steadily. Prices to move in line with boj's commitment to achieve price target at earliest date possible with time frame of around 2 years. There is no doubt that inflation expectations have risen due to QQE.”
The USD/JPY pair edged higher largely as the traders resorted to profit-booking on their USD shorts after the pair dipped below 119 handle and made lows of 118.86 in the previous session. The latest jobs data from the US did little to lift the greenback from near three-month lows.
The dollar index, which measures the currency's strength against its major peers, remains near fresh three month lows at 93.47, up 0.07% on the day.
On the macroeconomic front, a host of US economic data are in store to be released later in the US session, which may direct further moves on the major.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.50 levels and above which it could extend gains 119.61 (50-DMA) levels. To the downside immediate support might be located at119 below that at 118.86 (May 14 Low) levels.