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USD/JPY holding off the bears

FXstreet.com (London) – USD/JPY has been firm on 101.35 having pulled back from yesterday’s high just below 102.00

Strategists at TD Securities said the BoJ minutes revealed some members of the board questioning the potential of reaching the key 2% inflation target. “Bullish momentum that has built since the beginning of the month remains very strong, but we continue to note the extreme one-sidedness of the spec market that leaves the potential of a short squeeze”. Meanwhile, US data disappointed with Consumer Confidence arriving 70.4 vs 72.90.

USD/JPY Levels

The 20 DMA is 99.45, the 50 DMA is 98.63 and …read more