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Forex: USD/JPY short-lived spike after FOMC minutes

By FXstreet.com,  July 11, 2012, 02:48:00 PM EDT

FXstreet.com (Córdoba) - The dollar spiked toward daily highs versus the yen after the release of the latest FOMC minutes which showed Fed's members were divided on whether further stimulus measures were needed to boost employment.

USD/JPY jumped to the 79.75 zone but quickly retreated to pre-minutes levels at the 79.60/65 area, where it is 0.3% above its opening price.

In terms of technical levels, next resistances are seen at 79.70, 80.00 and 80.10, while immediate supports could be found at 79.50, 79.15 and 79.00.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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