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Currency Insights

“Limited upside for JPY” view remains

I mentioned before that the JPY has limited room to appreciate against the Greenback and the single currency though there are some upside risks for Yen, which are mainly from the ECB and the Federal Reserve.

For the USDJPY, 78.15 looks firm at this time and the first resistance still capped at 78.85 while the second resistance at 79.35.Click the image to enlarge

For the EURJPY, it has reached the second resistance level yesterday and retraced back to the first support level a few hours ago. Currently the price is hovering around 98.30. I remain my levels as previously.Click the image to enlarge