FXstreet.com (Barcelona) - The USD/JPY is hinting a Friday close below the 80.00 level as it declines from the 80.38 high obtained on yesterday's NY close. The pair breached below the psychological mark and insists in losing terrritory, now after the release of the final reading of October Reuters/Michigan Consumer sentiment in the US. Data disappointed by easing from 83.1 to 82.6, instead of only a slight drop to 83.0 as expected.
The Eurogroup will be deciding on Greek bailout next week, but the German Finance Minister Schaeuble already doubts that Greece has met its commitments.
After the consumer sentiment data, the USD/JPY plunged to as low as 78.50, and now its ranging at 78.50/60. “There is a break below the dynamic support at 80.02, but reversal at 80.38 will be confirmed only after a violation of 79.69 crucial area”, wrote Deltastock.com analyst Stoyan Mihaylov, with a neutral outlook.
The Eurogroup will be deciding on Greek bailout next week, but the German Finance Minister Schaeuble already doubts that Greece has met its commitments.
After the consumer sentiment data, the USD/JPY plunged to as low as 78.50, and now its ranging at 78.50/60. “There is a break below the dynamic support at 80.02, but reversal at 80.38 will be confirmed only after a violation of 79.69 crucial area”, wrote Deltastock.com analyst Stoyan Mihaylov, with a neutral outlook.
