FXstreet.com (Barcelona) - Today's rally on JPY weakness due to Shinzo Abe's political rethoric has reached its high at 81.46, 200 pips higher than yesterday's opening, and is pushing levels not seen since April, printing 7-month highs.
The US data releases kept the USD/JPY from extending gains above 81.46 as the greenback became even weaker on very disappointing initial jobless claims and November Phily Fed manufacturing survey at -10.7 due to Hurricane Sandy.
“The 81.70/80 zone looks to be the next resistance area above. With all the talk on Japan and the JPY in recent sessions, the BoJ meeting early next week could attract a bit more attention”, wrote TD Securities analysts, expecting the central bank's policy to stay unchanged.
The US data releases kept the USD/JPY from extending gains above 81.46 as the greenback became even weaker on very disappointing initial jobless claims and November Phily Fed manufacturing survey at -10.7 due to Hurricane Sandy.
“The 81.70/80 zone looks to be the next resistance area above. With all the talk on Japan and the JPY in recent sessions, the BoJ meeting early next week could attract a bit more attention”, wrote TD Securities analysts, expecting the central bank's policy to stay unchanged.
