The yen is holding on to the line
04.06.2015
The USD/JPY pair has stabilized after sharp jumps this week. The maximums of twelve years have been reached and ahead are new heights.
The Japanese Yen on Wednesday once again began to fall after a short pause. On Thursday, everything more or less calmed down. The last two weeks were hot for the USD/JPY pair. Yesterday the instrument updated the highs of twelve years. After the surrender of the yen at the end of May, the market is not surprised with anything. I wonder, however - whether new peaks will be taken, and if so, how soon.
This afternoon the USD/JPY pair is trading around the 123.86 mark. The maximum of this week is at the level of 125.04.
At the moment, the support for the US dollar is coming from tomorrow’s block of statistics. On Friday data on the employment market in May for this year will be published. It is assumed that the figures for the number of jobs outside the agricultural sector will be strong, and this factor will help to maintain the current position of the Federal Reserve System in the issue of rates.
Investors are neutral. Report on the state of the US economy, which was presented in the "Beige Book" showed that the total economic activity rose in May.
Technically, the USD/JPY pair holds near the top of the medium-term trading range and has many chances to repeatedly test the highs.
RoboForex Analytical Department
The Japanese Yen on Wednesday once again began to fall after a short pause. On Thursday, everything more or less calmed down. The last two weeks were hot for the USD/JPY pair. Yesterday the instrument updated the highs of twelve years. After the surrender of the yen at the end of May, the market is not surprised with anything. I wonder, however - whether new peaks will be taken, and if so, how soon.
This afternoon the USD/JPY pair is trading around the 123.86 mark. The maximum of this week is at the level of 125.04.
At the moment, the support for the US dollar is coming from tomorrow’s block of statistics. On Friday data on the employment market in May for this year will be published. It is assumed that the figures for the number of jobs outside the agricultural sector will be strong, and this factor will help to maintain the current position of the Federal Reserve System in the issue of rates.
Investors are neutral. Report on the state of the US economy, which was presented in the "Beige Book" showed that the total economic activity rose in May.
Technically, the USD/JPY pair holds near the top of the medium-term trading range and has many chances to repeatedly test the highs.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.