USD/JPY And EUR/JPY Recovery Mode As Central Banks Loom

By Martin Miller — Oct 26 - 06:09 AM

• USD/JPY has risen from 156.66 to 157.36, so far on Monday, EBS data shows

• The daily cloud currently spans the 156.06-158.44 region, the base limited USD/JPY last week

• There seems to be solid support ahead of the 155.96 level, 50% of the 152.89-159.03 EBS rise

• Note euro firms against dollar and yen ahead of central bank meetings

• The Fed, ECB and BOJ are all expected to hold rates steady despite inflation pressures

Daily Chart

Daily Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:

London Stock Exchange Group | Thomson Reuters

eFXplus DATA