16 Dec 2014
USD/JPY recovers ground despite US data
FXStreet (Córdoba) - USD/JPY managed to cut intraday losses at the beginning of the New York session, despite below expectations US housing data and manufacturing PMI, after hitting a 1-month low earlier on the day.
USD/JPY broke below several support levels and accelerated to a low of 115.55 during the European session before finding support and recovering about 100 pips. At time of writing, USD/JPY is trading at 116.55, still 1.04% below its opening price.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 115.55 (daily low) and 115.00 (psychological level), while resistances are seen at 118.00 (psychological level/daily high) and 118.54 (21-day SMA).
USD/JPY broke below several support levels and accelerated to a low of 115.55 during the European session before finding support and recovering about 100 pips. At time of writing, USD/JPY is trading at 116.55, still 1.04% below its opening price.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 115.55 (daily low) and 115.00 (psychological level), while resistances are seen at 118.00 (psychological level/daily high) and 118.54 (21-day SMA).