8 Apr 2015
USD/JPY testing lows near 119.75
FXStreet (Mumbai) - USD/JPY accelerates losses and heads towards 10-DMA during the mid-European session, as the US dollar extends its corrective slide versus the yen, almost surrendering gains seen in the previous session. While markets now eagerly await FOMC minutes for further updates.
USD/JPY drops from 119.93
Currently, the USD/JPY pair trades -0.44% lower at 119.78 levels, failing another attempt to surpass 120 handle. The USD/JPY pair remains in red largely on the back of extended losses seen in the US dollar against its major competitors, with the DXY losing to the tune of -0.72% at 97.56.
USD/JPY also dropped on BOJ Governor Kuroda’s comments which send an optimistic message at his post- monetary policy meeting news conference, despite slowing inflation and recent signs of weakness in the economy.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.32 (Today’s High) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.64 (10-DMA) below that at 119.24 (100-DMA) levels.
USD/JPY drops from 119.93
Currently, the USD/JPY pair trades -0.44% lower at 119.78 levels, failing another attempt to surpass 120 handle. The USD/JPY pair remains in red largely on the back of extended losses seen in the US dollar against its major competitors, with the DXY losing to the tune of -0.72% at 97.56.
USD/JPY also dropped on BOJ Governor Kuroda’s comments which send an optimistic message at his post- monetary policy meeting news conference, despite slowing inflation and recent signs of weakness in the economy.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.32 (Today’s High) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.64 (10-DMA) below that at 119.24 (100-DMA) levels.