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20 Jun 2013
USD/JPY breaches the 97.00 handle
FXstreet.com (Barcelona) - USD/JPY its on track for a fourth day of gains after breaking through 97.00 in the last few minutes, reaching a new 7-day high at 97.16.
Break above 97.00 hints at further upside
The USD/JPY has had an impressive 3-day run, with today's upside resolution through 97.00, opening the doors for a further recovery towards the 20-day EMA at 97.50, a level that coincides with the 38.2% fib retrac from the 103.57-93.65 bear run. Above this resistance, technicals suggests the upward extension may seek more ambitious targets as high as 98.90/99.00 - June 3 low, June 11 high -.
More incentives needed on Abenomics, Moody's says
Earlier on the session, Moody’s made some credit outlook remarks over the Abenomics policy, saying that "More incentives are needed to boost business investment."
The FT extended on the report, noting "stronger private consumption growth is not sustainable without companies hiring more & paying higher salaries, which wont happen until business is convinced that economic policies will ‘stoke long-term growth."
Break above 97.00 hints at further upside
The USD/JPY has had an impressive 3-day run, with today's upside resolution through 97.00, opening the doors for a further recovery towards the 20-day EMA at 97.50, a level that coincides with the 38.2% fib retrac from the 103.57-93.65 bear run. Above this resistance, technicals suggests the upward extension may seek more ambitious targets as high as 98.90/99.00 - June 3 low, June 11 high -.
More incentives needed on Abenomics, Moody's says
Earlier on the session, Moody’s made some credit outlook remarks over the Abenomics policy, saying that "More incentives are needed to boost business investment."
The FT extended on the report, noting "stronger private consumption growth is not sustainable without companies hiring more & paying higher salaries, which wont happen until business is convinced that economic policies will ‘stoke long-term growth."