12 May 2015
USD/JPY hits fresh lows below 120.00
FXStreet (Córdoba) - USD/JPY weakened after the beginning of trading in Wall Street and dropped to 119.79, hitting a fresh daily low. The pair then bounce to the upside but it was unable to recover 120.00.
The dollar is falling across the board on Tuesday and against the yen erased yesterday’s gains. US stocks are falling but managed to move off session lows. The Dow Jones is falling 0.17% and the Nasdaq drops 0.25%, Treasury bonds bounced sharply and now are around yesterday’s levels, pulling back after yields reached the highest level in months.
USD/JPY technical levels
To the upside, resistance might lie at 119.95 (intraday level), 120.30 and 120.50 (May 5 high). On the flip side, support could be located at 119.75/850 (daily low), 119.60 (May 8 low) and 119.20 (May 6 low).
The dollar is falling across the board on Tuesday and against the yen erased yesterday’s gains. US stocks are falling but managed to move off session lows. The Dow Jones is falling 0.17% and the Nasdaq drops 0.25%, Treasury bonds bounced sharply and now are around yesterday’s levels, pulling back after yields reached the highest level in months.
USD/JPY technical levels
To the upside, resistance might lie at 119.95 (intraday level), 120.30 and 120.50 (May 5 high). On the flip side, support could be located at 119.75/850 (daily low), 119.60 (May 8 low) and 119.20 (May 6 low).