FXStreet (Guatemala) – USD/JPY is currently trading at 123.77 with a high of 123.99 and a low of 123.21.
USD/JPY has fulfilled demand up to 124 and now moves back in to line mid week’s support as we approach the close as the dollar bulls take extra profits as the month comes to an end. Next week we will have a number of key events while much attention will be paid to the outcome to these extended discussions in respect of Greece over the weekend, but the calendar holds the US nonfarm payrolls as standard which will be crucial in shaping monetary policy expectations in the US.
Analysts at the Bank of Tokyo-Mitsubishi UFJ, Ltd explained that, “While the 125.00 level was breached earlier this month, it is likely to act as a pretty stiff resistance level on any good news related to the employment report from the US. Similarly, downside support looks quite solid around the 122.00 level if the US data was to disappoint.”
(Market News Provided by FXstreet)