USD/JPY reaching into 117 territory in Tokyo

FXStreet (Guatemala) – USD/JPY is trading at 117.03, up 0.35% on the day, having posted a daily high at 117.10 and low at 116.24.

USD/JPY is trading up to the 117 handle as the Nikkei is up over 180 points in Tokyo. The US session was volatility and following suit of activity in Europe with risk off supporting the Yen when investors were moving away from Russian climate and EM countries.

The volatility is likely to remain the theme as we move further into the week and holiday season while we still await the FOMC this week. Oil continues to make fresh lows day after day and remains a driving force.

From the calendar, we are light having just had the only release relating to the major in the trade balance for Japan, a non market moving event. However, what was interesting were the export numbers coming in far lower than expected, 4.9% year on year vs the expected +7.0%, and previous +9.6%.