Reuters is reporting that Japanese Prime Minister Shinzo Abe has confirmed that leadership “will compile a long-term growth strategy for the economy around the middle of this year,” and that there are details coming Friday on a plan to map out its economic stimulus package.
Spot last trades at 115.10, with bulls looking poised for a retest of the 115.50 (Jan 7 high) mark. Technical readings are quite overbought, but sentiment remains JPY soft and players may still be looking for significant bid on dips.
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 securities. 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 Forex 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.