USD/JPY bounced sharply up to 98.75 Fibonacci resistance; max upside 98.01 now

FXstreet.com (Barcelona) – The USD/JPY rebounded sharply Wednesday after the U.S. ruled out unilateral attacks on Syria and forced some of the safe harbor money to be shifted back towards risk assets.

The Yen will have more data to digest in addition to Syria Thursday

While the risk-on / risk-off dynamic will clearly continue to have a big effect on USD/JPY until the Syria problem is solved, USD/JPY traders will have to react Wednesday to Japanese foreign investment data, Japanese retail trade, US GDP, Personal Consumption Expenditures, weekly Jobless Claims and a speech from the Fed’s Mr. Bullard.

Technical outlook …read more