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13 Apr 2015
USD/JPY still trapped in the broad range – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes that USD/JPY still appears to be trapped in the 115.50-122.00 range, and any further developments might remain on the US interest rate outlook.
Key Quotes
“Since December 2014 the currency pair is traded in a range between 115.50 and 122.0 yen. These undecided range is near to the seven-year high and the trend is still bullish.”
“Probably the price development depends on U.S. fundamental outlook when the Federal Reserve will increase the borrowing costs for interest rates.”
“The Relative Strength Index shows additionally an undecided development because of no overbought or oversold signal since months.”
Key Quotes
“Since December 2014 the currency pair is traded in a range between 115.50 and 122.0 yen. These undecided range is near to the seven-year high and the trend is still bullish.”
“Probably the price development depends on U.S. fundamental outlook when the Federal Reserve will increase the borrowing costs for interest rates.”
“The Relative Strength Index shows additionally an undecided development because of no overbought or oversold signal since months.”