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24 Dec 2014
USD/JPY retreats on profit-taking – AceTrader
FXStreet (Barcelona) - The AceTrader Team shares that USD/JPY rose to 120.83 after dollar strengthened due to better than expected US Q3 GDP numbers, but retreated back after profit-taking.
Key Quotes
“Despite dlr's brief rise to 120.83 in Australian morning due to the rise in Nikkei-225 index following yesterday's rally in global stock markets. The greenback retreated to as low as 120.29/30 on active profit-taking. Offers are now reported at 120.60-65 and more at 120.80.”
“On the downside, some bids are located at 120.30 and 120.20-10.”
“Japan was preparing Wednesday to name Prime Minister Shinzo Abe to his next term in office following his victory in a December 14 snap election that could give him another four years to pursue his agenda of restoring Japan's economic and security stature.”
“The parliament was to convene in the afternoon to elect Abe as prime minister. Abe is due to then appoint a new cabinet. Japanese media reported that the cabinet ministers will remain the same apart from the defense minister, Akinori Eto.”
Key Quotes
“Despite dlr's brief rise to 120.83 in Australian morning due to the rise in Nikkei-225 index following yesterday's rally in global stock markets. The greenback retreated to as low as 120.29/30 on active profit-taking. Offers are now reported at 120.60-65 and more at 120.80.”
“On the downside, some bids are located at 120.30 and 120.20-10.”
“Japan was preparing Wednesday to name Prime Minister Shinzo Abe to his next term in office following his victory in a December 14 snap election that could give him another four years to pursue his agenda of restoring Japan's economic and security stature.”
“The parliament was to convene in the afternoon to elect Abe as prime minister. Abe is due to then appoint a new cabinet. Japanese media reported that the cabinet ministers will remain the same apart from the defense minister, Akinori Eto.”