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JPY Daily News
USD/JPY Carving Out a Base
Friday, 25 Nov 2011
USD strength has helped the JPY ease from its lows as the USD is the premier safe haven currency during the European debt crisis. Lower yields on US debt may also temporarily support the USD/JPY. The USD 10-year note is currently yielding 1.88% and the spread between the US bond and its Japanese equivalent has fallen to only 0.90 in favor of the US.
The USD/JPY is carving out a base near the 76.80 level after a failed attempt to breach below the support. On Wednesday the price made a move above the initial resistance of 77.50 from the mid-October lows only to run into selling pressure. Should the European debt crisis continue to heat up the USD could strengthen and the USD/JPY may climb to 77.85 from the November 9th high.
Current Time: 05/26 23:45 GMT
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 11/25 | ||||||||
| 06:00 | JPY |  BoJ Governor Shirakawa Speaks | * | * | * |  | ||
