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29 Dec 2014
USD/JPY stays above 120.00, bulls in control
FXStreet (Bali) - USD/JPY opens on Monday virtually unchanged from last week's close, currently at 120.35.
With no economic indicators to take note of, and the market still in holidays mode, it is very unlikely to see any significant moves along Monday's Asian session, with a tight range the most probable play, something that looks set to persist for the rest of the day amid the absence of drivers.
Technically, the pair remains bullish, with the daily holding well above the main ichimoku indicators, including the tenkan and kijun lines, following the recovery seen through mid Dec. As long as USD/JPY stays above 118.00/118.50 (tenkan/kijun), buyers will remain the force in control heading into 2015.
With no economic indicators to take note of, and the market still in holidays mode, it is very unlikely to see any significant moves along Monday's Asian session, with a tight range the most probable play, something that looks set to persist for the rest of the day amid the absence of drivers.
Technically, the pair remains bullish, with the daily holding well above the main ichimoku indicators, including the tenkan and kijun lines, following the recovery seen through mid Dec. As long as USD/JPY stays above 118.00/118.50 (tenkan/kijun), buyers will remain the force in control heading into 2015.