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25 Feb 2014
USD/JPY holds 102.50 with Tokyo online
FXStreet (Bali) - USD/JPY is off to a quiet start in Tokyo, holding marginally above the 102.50 after ending unchanged on Monday.
US stocks underpin USD/JPY
The positive sentiment in US stocks, with the SP500 making new all time highs, along with the daily tenkan line, managed to provide support to the pair at 102.25 day lows.
USD/JPY outlook
According to Jim Langlands, Founder at FXCharts: "It currently sits at 102.50, unchanged from the weeks opening levels and below the highs of the last two sessions of 102.67 and 102.83. I don’t think we should expect too much different today and once again 102/103 should probably cover it, probably underpinned by a better performing Nikkei."
US stocks underpin USD/JPY
The positive sentiment in US stocks, with the SP500 making new all time highs, along with the daily tenkan line, managed to provide support to the pair at 102.25 day lows.
USD/JPY outlook
According to Jim Langlands, Founder at FXCharts: "It currently sits at 102.50, unchanged from the weeks opening levels and below the highs of the last two sessions of 102.67 and 102.83. I don’t think we should expect too much different today and once again 102/103 should probably cover it, probably underpinned by a better performing Nikkei."