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2 Dec 2014
USD/JPY pushes past 119 level – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that USD/JPY has gained close to 100 points on Tuesday, as the pair trades above the 119 line.
Key Quotes
“The Japanese yen continues its disappearing act, as the currency is trading above the 119 line.”
“The yen lost ground on a weak report from Average Cash Earnings, which slipped to 0.5% in October, short of the forecast of 0.8%. The softer reading points to less disposable income for the Japanese worker, which means a drop in spending.”
“USD/JPY posted gains late in the Asian session. The pair continues to move higher in European trade and broke above resistance at 118.89.”
“118.89 has reverted to a support role as the yen has sustained sharp losses. 117.94 is stronger.”
“119.93 is a strong resistance line.”
Key Quotes
“The Japanese yen continues its disappearing act, as the currency is trading above the 119 line.”
“The yen lost ground on a weak report from Average Cash Earnings, which slipped to 0.5% in October, short of the forecast of 0.8%. The softer reading points to less disposable income for the Japanese worker, which means a drop in spending.”
“USD/JPY posted gains late in the Asian session. The pair continues to move higher in European trade and broke above resistance at 118.89.”
“118.89 has reverted to a support role as the yen has sustained sharp losses. 117.94 is stronger.”
“119.93 is a strong resistance line.”