6 May 2015
USD/JPY finds support ahead of 119.00
FXStreet (Córdoba) - USD/JPY came under pressure at the beginning of the New York session and dropped to a 6-day low in the wake of softer-than-expected US employment data.
USD/JPY extended its pullback from the 120.50 area where it printed a 3-week peak yesterday, and stretched to a weekly low of 119.19 before finding support and recovering slightly. The pair has managed to climb back to the 119.50 zone, where it trades at time of writing, still 0.27% below its opening price.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks below the 119.20 zone, next supports could be found at 119.00 (psychological level) and 118.60 (Apr 29 low). On the upside, immediate resistances are seen at 119.90 (50-day SMA), 120.02 (daily high) and 120.50 (May 5 high).
USD/JPY extended its pullback from the 120.50 area where it printed a 3-week peak yesterday, and stretched to a weekly low of 119.19 before finding support and recovering slightly. The pair has managed to climb back to the 119.50 zone, where it trades at time of writing, still 0.27% below its opening price.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks below the 119.20 zone, next supports could be found at 119.00 (psychological level) and 118.60 (Apr 29 low). On the upside, immediate resistances are seen at 119.90 (50-day SMA), 120.02 (daily high) and 120.50 (May 5 high).