FXstreet.com (Barcelona) - Unable to extend gains above 78.49 high, the USD/JPY started to retrace the European opening rise, trading in a back an forth manner as 78.38 holds the pair for now. At the moment of writing, more downside pressure is witnessed, but the pair trades flat on the day.
Boj's Miyao is concerned of the potential risks of imbalances in Asia due to excessive short term stimulus coming from there. BoJ's Nishimura applauds the Eurozone banking union plans and its importance to avoid adverse feedbank loop in the economy and financial system.
Moody's is concerned with Japan's debt outlook caused by the political stalement. The rating agency believes government debt purchases by the BoJ are “not the ultimate solution to low economic growth”, wrote UBS analyst Gareth Berry.
“USD/JPY has seen a sharp rally and while this is impressive the market has yet to close above its cloud resistance, today at 78.74/79.00”, wrote Commerzbank analyst Karen Jones, pointing to supports at 77.45 and 77.15.
Boj's Miyao is concerned of the potential risks of imbalances in Asia due to excessive short term stimulus coming from there. BoJ's Nishimura applauds the Eurozone banking union plans and its importance to avoid adverse feedbank loop in the economy and financial system.
Moody's is concerned with Japan's debt outlook caused by the political stalement. The rating agency believes government debt purchases by the BoJ are “not the ultimate solution to low economic growth”, wrote UBS analyst Gareth Berry.
“USD/JPY has seen a sharp rally and while this is impressive the market has yet to close above its cloud resistance, today at 78.74/79.00”, wrote Commerzbank analyst Karen Jones, pointing to supports at 77.45 and 77.15.
