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14 May 2015
USD/JPY: sell dollar recovery - AceTrader
FXStreet (Barcelona) - According to the Research Team at AceTrader, any dollar recovery should be used as a sell opportunity for USD/JPY, but support at 118.33 will likely hold any losses.
Key Quotes
“As recent weak U.S. data have raised concerns over the strength of the country's recovery and in turn dampened expectations for a rate hike from the Fed in Q2, selling dlr on recovery is recommended.”
“However, investors should take profit on next decline as key support at 118.33 (reaction low from 2015 at 122.03 in March) should remain intact this week.”
“Looking ahead, investors should pay attention to the release of U.S. weekly jobless claims report at 12:30GMT.”
“At present, offers are tipped at 119.40-50 and more at 119.65/70 with mixture of offers and stops at 119.90-120.00.”
“On the downside, bids are placed at 119.00-118.90 and around 118.80 with buying interest from various accounts at 118.60-40 region.”
Key Quotes
“As recent weak U.S. data have raised concerns over the strength of the country's recovery and in turn dampened expectations for a rate hike from the Fed in Q2, selling dlr on recovery is recommended.”
“However, investors should take profit on next decline as key support at 118.33 (reaction low from 2015 at 122.03 in March) should remain intact this week.”
“Looking ahead, investors should pay attention to the release of U.S. weekly jobless claims report at 12:30GMT.”
“At present, offers are tipped at 119.40-50 and more at 119.65/70 with mixture of offers and stops at 119.90-120.00.”
“On the downside, bids are placed at 119.00-118.90 and around 118.80 with buying interest from various accounts at 118.60-40 region.”