Friday, October 30, 2015

USD/JPY skyrockets above post-FOMC high

FXStreet (Bali) - USD/JPY has skyrocketed in tandem with the Nikkei 225, extending the recovery post BOJ, which as a reminder, left its policy unchanged.

Nikkei 225 bid to the boots

A headlines crossing the wires a few minutes ago, right at the time of the spike in USD/JPY, could read "Japan lobby group seeks corp tax cut to 30.88%." Another headline read "Japan considers extra budget of more than JPY 3 Tln, according to Nikkei."

Impressive USD/JPY bounce

The headlines might well be what's behind the new impulsive leg in the Nikkei 225, currently up by 1.3% today, and USD/JPY, up 15/20 pips for the session, last at 121.28, after a V-shape bounce from 120.30 all the way to 121.40, with 124.50 now acting as next key level, as per highs on Oct 23th, followed by 122.00 round number.
For more information, read our latest forex news.

No comments:

Post a Comment