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14 Jan 2015
USD/JPY makes a fresh 3-week low at 116.75 – AceTrader
FXStreet (Barcelona) - The AceTrader Team shares that broad-based Yen buying on risk aversion led the USD/JPY pair to trip stops below the 117.00 region and make a new fresh 3-week low at 116.75.
Key Quotes
“USD/JPY tumbles to a fresh 3-week low of 116.75 in heavy Asian trading.”
“Despite initial recovery from Tuesday's NY low of 117.53, renewed selling emerged at 117.96 (Aust.) and knocked price to lower 117.50 shortly after Tokyo open.”
“Renewed weakness in the Nikkei (N225 closed down nearly 300 points at 16795 - a near 3-week low) triggered broad-based yen buying on risk aversion n the pair remained under pressure throughout Asian session after tripping stops below 117.00.”
“The lack of a rebound ahead of European open suggests intra-day downward pressure remains and looks like any rebound in the dlr would be ltd in European session as more stops are touted below 116.25, then below 116.00.”
Key Quotes
“USD/JPY tumbles to a fresh 3-week low of 116.75 in heavy Asian trading.”
“Despite initial recovery from Tuesday's NY low of 117.53, renewed selling emerged at 117.96 (Aust.) and knocked price to lower 117.50 shortly after Tokyo open.”
“Renewed weakness in the Nikkei (N225 closed down nearly 300 points at 16795 - a near 3-week low) triggered broad-based yen buying on risk aversion n the pair remained under pressure throughout Asian session after tripping stops below 117.00.”
“The lack of a rebound ahead of European open suggests intra-day downward pressure remains and looks like any rebound in the dlr would be ltd in European session as more stops are touted below 116.25, then below 116.00.”