16 Jan 2015
USD/JPY off lows but is not going far
FXStreet (Córdoba) - USD/JPY managed to move off fresh 1-month lows during the European session but the bounce was short lived as safety trades dominate after SNB’s shock decision to remove the franc cap.
USD/JPY broke below 116.00 and bottomed out at 115.84 during the Asian session, but it managed to recover nearly 100 pips to hit a daily high of 116.82. However, the pair lost momentum and settled in a range over the last hours. At time of writing, USD/JPY is trading at 116.45, up 0.27% on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate supports at 115.84 (daily low), 115.45 (Nov 17 low) and 115.30 (Nov 13 low). On the other hand, resistances are seen at 116.82 (daily high), 117.00 (psychological level) and 117.50 (100-hour SMA).
USD/JPY broke below 116.00 and bottomed out at 115.84 during the Asian session, but it managed to recover nearly 100 pips to hit a daily high of 116.82. However, the pair lost momentum and settled in a range over the last hours. At time of writing, USD/JPY is trading at 116.45, up 0.27% on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate supports at 115.84 (daily low), 115.45 (Nov 17 low) and 115.30 (Nov 13 low). On the other hand, resistances are seen at 116.82 (daily high), 117.00 (psychological level) and 117.50 (100-hour SMA).