USD/JPY: stuck in a narrow range between key levels, awaiting FOMC minutes
|Currently, USD/JPY is trading at 113.13, up 0.18% on the day, having posted a daily high at 113.25 and low at 112.78.
USD/JPY is trading in a 20 pip range in slow markets at the start of this week. North America are out on holiday today and there is a lack of impetus out there for the major. The yen started off with a slight but firmed up again as risk came back into play.
The FOMC minutes release is the highlight for the US this week, noted analysts at Brown Brothers Harriman, " After the Yellen's recent testimony and comments from various other officials, it the minutes is unlikely to add much to the already available information set. It may be interesting to see how the Fed's balance sheet was discussed and the preliminary thinking about fiscal policy initiatives."
USD/JPY levels
In respect of the levels, the pair is stuck between two breakout areas while between 115.62, 19th January high, and 111.50 and the 200 day smoothed sma. The 16-month resistance line is at 117.99 while the base of the cloud is located at 109.92.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.