At the last times, the Asian markets are experiencing fluctuating days. When we look at the USD/JPY parity, we can say that it’s an excellent indicator for both American and Asian economies. When we look at the general outlook of USD/JPY parity for March briefly, we could observe a strong positive trend had continued until the end the first half of March. After that, we can observe a strong decline in the USD/JPY parity. The parity reached under the 113.50 level on March 17th.
The Bank of Japan did not change the rate of interest and asset purchases after the March meeting. BOJ Chairman Kuroda's statements were limited to the yen, and we saw that the parity was down to 112.90 with the fluctuating course of the dollar. In the United States, construction permits in February remained below expectations, while housing starts were up on expectations. Finally, when we look at the technical analysis concept of USD/JPY parity for April 2017, the first forecasts are a bit horizontal. Support levels of 112,90, 112,57 and 112,00 can be followed during withdrawal. Probable, upwards movements can be followed by resistance levels of 113,90, 114,20 and 114,50.
- Date: 24 March 2017 Fri 06:28
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