USD/JPY extends losses after SNB surprise

15 January 2015, 13:00
Andrius Kulvinskas
USD/JPY broke below 116.60 and dropped to 116.28, reaching a fresh daily low. The pair remains with a bearish bias in the short term as stocks retreated in Europe after the SNB abandoned the EUR/CHF cap. 

On Asian hours greenback extended the recovery against the yen and reached 117.92 (daily high) and pulled back, finding support at 117.55. During the European session lost momentum, broke 117.55 and recently 116.60. 

Price approached yesterday’s lows that lie slightly above 116.00. If it falls below it would be at 1-month lows.
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