Yen Versus Dollar and Euro July 12th

FX Strategy Video > Currency Pairs Analysis

USD/JPY rose during the session on Wednesday in order to continue to stay within the recent range. The pair looks like it needs to clear the 80 handle first though in order to get bullish. The FMOC minutes weren't hinting for more QE, so the US may or may not ease. However, we know the Japanese are going to. A break above 80.60 would be very, very bullish.

The EUR/JPY pair saw a little bit of a bounce, but this simply isn't a strong enough signal to think about buying. The hammer from the start of June should have provided support - and it did. Now the real question is where do we sell from?

Published on 11th of July 2012
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