USD/JPY remains in the bear’s hands on Greece debacle

FXStreet (Guatemala) – USD/JPY is currently trading at 122.58 with a high of 122.73 and a low of 122.53.

USD/JPY is opening Tokyo lower while the Nikkei shrugs off the Greek debacle and opens up 0.34%. USD/JPY spiked to 122.71 before resuming the downside in the open and is coupling the majority of overnight’s trend from the start of the US session from just below the 123 handle at the London handover down to 122.39 in US trade.

The Yen remains the safe haven in the FX space while the CHF was intervened by the SNB that was sending the euro off on a rally despite the likelihood of Greece defaulting tonight on the the re-payment to the IMF ahead of the referendum that is scheduled for Monday (Asia) next week. Besides from Greece, the Japanese Tankan survey is tomorrow ahead of the US Nonfarm Payrolls showdown at the end of the week. Technically, we are sticky above the new June lows at 122.10 in a consolidation but on continued uncertainty there is a bearish bias where 121.80 comes as next key support guarding 120.40.

USD/JPY is currently trading at 122.58 with a high of 122.73 and a low of 122.53.

(Market News Provided by FXstreet)