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17 Feb 2014
USD/JPY opens lower ahead of GDP data
FXStreet (Córdoba) - The USD/JPY started the week with a bearish gap trading at 101.62, just a few pips above Friday’s lows that lie at 101.57. Afterwards the pair trimmed losses and approached 101.80 ahead of Nikkei opening and growth data from Japan.
Last week the USD/JPY almost a hundred pips and posted the lowest weekly close since November of last year.
USD/JPY outlook
Jim Langlands, from FX Charts, suggests for Monday’s trading to use 101.50 - 102.10 as a guide. “The shorter term charts are pointing a bit lower, with direction on Monday likely to be driven by the release of the provisional Japanese GDP, while the dailies remain rather non committal”, says Langlands. Finally notes that the weekly charts suggest that “we may eventually need to take another look at what lies near 100.00, although this appears to be some way off”.
Last week the USD/JPY almost a hundred pips and posted the lowest weekly close since November of last year.
USD/JPY outlook
Jim Langlands, from FX Charts, suggests for Monday’s trading to use 101.50 - 102.10 as a guide. “The shorter term charts are pointing a bit lower, with direction on Monday likely to be driven by the release of the provisional Japanese GDP, while the dailies remain rather non committal”, says Langlands. Finally notes that the weekly charts suggest that “we may eventually need to take another look at what lies near 100.00, although this appears to be some way off”.