26 Mar 2015
USD/JPY bounces off 118.30; back to 119.00
FXStreet (Tokyo) - The USD/JPY found buying interest at 118.30 where the pair started a recovery that drove the pair back above 119.00.
The USD suddenly made a turn-back in the market and now the US dollar is trading higher against its major competitors. Currently, USD/JPY is trading at 119.06, down 0.33% on the day, having posted a daily high at 119.59 and low at 118.33.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY sentiment
According to ForexLive analyst Greg Michalowski the "USDJPY has moved lower on the back of a "flight into the relative safety of the JPY" as a result of a falling stock market and general reversal of the USD."
If the pair extends gains above 119.00, resistances are at 119.20, 119.60 and 119.80. To the downside, supports are at 118.30, 117.90 and 117.60.
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The USD suddenly made a turn-back in the market and now the US dollar is trading higher against its major competitors. Currently, USD/JPY is trading at 119.06, down 0.33% on the day, having posted a daily high at 119.59 and low at 118.33.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY sentiment
According to ForexLive analyst Greg Michalowski the "USDJPY has moved lower on the back of a "flight into the relative safety of the JPY" as a result of a falling stock market and general reversal of the USD."
If the pair extends gains above 119.00, resistances are at 119.20, 119.60 and 119.80. To the downside, supports are at 118.30, 117.90 and 117.60.
text here and click on the "Check Text" button.