Technical analysis of USD/JPY for Feburary 20, 2014

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Show full picture Overview: USD/JPY is expected to trade in a lower range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.19 versus 80.00 early Wednesday) after the Federal Reserve meeting minutes showed support for the current pace of cutbacks to its bond-buying program and the Fed’s officials also started to debate when to begin raising interest rates, with a few arguing, a rate increase may be appropriate “relatively soon.” USD/JPY is also supported after Fed’s Bullard told The Wall Street Journal that a strong U.S. economy is facing its best prospects since the financial crisis will likely allow the Federal Reserve to steadily reduce its monthly bond purchases, while Fed’s Williams reiterated the bar is high for the…


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