12 Feb 2015
USD/JPY finds support at 118.50; back to test 119.00
FXStreet (San Francisco) - After finding 130 pips from 119.80, the USD/JPY found support at 118.50 where the pair experienced buying interest that sent it back to test the 119.00 area.
USD/JPY fell sharply during the American session, weakened by falling Treasury yields and weak US economic data. Currently, USD/JPY is trading at 118.89, down 1.15% on the day, having posted a daily high at 120.49 and low at 118.51.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY levels
If the pair extends recovery beyond 119.00, it will find next resistances at 119.50 and 119.75. To the downside, supports are at 118.70, 118.50 and 118.00
USD/JPY fell sharply during the American session, weakened by falling Treasury yields and weak US economic data. Currently, USD/JPY is trading at 118.89, down 1.15% on the day, having posted a daily high at 120.49 and low at 118.51.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY levels
If the pair extends recovery beyond 119.00, it will find next resistances at 119.50 and 119.75. To the downside, supports are at 118.70, 118.50 and 118.00