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17 Jun 2013
USD/JPY finds some ground above 94.00
FXstreet.com (Barcelona) - One hour away of the Tokyo open, USD/JPY is last at 94.26, off fresh session highs at 94.45, slightly above previous weekly close Friday around the 94.07 level.
BoJ to expand purchases
News over the weekend coming out of news agency Nikkei “suggests the Bank of Japan is weighing the possibility of expanding the purchases of Japanese real estate investment trusts (J-REITs) above the agreed levels.” USD/JPY has seen already 4 straight weeks of losses, something not seen since the summer of 2009.
Key technical levels
Immediate support to the downside for USD/JPY lies at Friday's lows 93.97, followed by Thursday's fresh 2-month lows at 93.77, and March 25 lows at 93.51. To the upside, closest resistance shows at recent session highs/Friday's Asia-Pacific lows 94.45, followed by June 07 lows at 94.95, and Friday's London session highs at 95.34.
BoJ to expand purchases
News over the weekend coming out of news agency Nikkei “suggests the Bank of Japan is weighing the possibility of expanding the purchases of Japanese real estate investment trusts (J-REITs) above the agreed levels.” USD/JPY has seen already 4 straight weeks of losses, something not seen since the summer of 2009.
Key technical levels
Immediate support to the downside for USD/JPY lies at Friday's lows 93.97, followed by Thursday's fresh 2-month lows at 93.77, and March 25 lows at 93.51. To the upside, closest resistance shows at recent session highs/Friday's Asia-Pacific lows 94.45, followed by June 07 lows at 94.95, and Friday's London session highs at 95.34.