USD/JPY: Tsipras wins Greek elections; focus on China/US

By FXStreet FXStreet (Guatemala) – USD/JPY is opening the week in the vicinity of the 120 handle having popped up in early Asia after a positive close on Friday in the US session.

The Greek election risk has not taken as much attention from the FX space to start the week while otherwise the Yen may have been playing a safe haven roll towards the end of last few sessions, dropping back from the 200 DMA once again which has been a strong resistance area on the charts for the best part of September’s business.

Alexis Tsipras has won the Greek election and that should be very positive in the eyes of the Eurogroup and leaders in the EZ in respect to the bailout programme. Moving on, the continued concerns over the Global picture is a whole other story and will continue to favour the Yen in times of uncertainty.

Currency wars, Stocks, US data and China are the main focus again now that the Fed have openly announced their concerns around China’s slowdown and how a rate hike so soon would not be so prudent. However, Fed’s Williams spoke over the weekend and explained that it was a close …read more

Source:: FX Street