12 Aug 2015
USD/JPY hits fresh lows sub-124.00
FXStreet (Córdoba) - USD/JPY stretched to fresh lows during the New York session after US JOLTS job openings came in slightly below expectations.
USD/JPY has dropped more than 140 pips from daily highs as the USD came under broad pressure amid reports that the Chinese authorities may have intervened by selling dollars to prevent a further yuan decline after the PBoC endured another round of sharp depreciation earlier on the day.
USD/JPY fell from above 125.00 all the way to a low of 123.86 in recent dealings. At time of writing, the pair is trading at 123.93, recording a 0.94% loss on the day.
USD/JPY levels to watch
In terms of technical levels, immediate supports are seen at 123.86 (Aug 12 low), 123.59 (50-day SMA) and 123.32 (Jul 29 low). On the other hand, resistances could be found at 124.10 (21-day SMA), 124.51 (Aug 11 low) and 125.27 (Aug 12 high).
USD/JPY has dropped more than 140 pips from daily highs as the USD came under broad pressure amid reports that the Chinese authorities may have intervened by selling dollars to prevent a further yuan decline after the PBoC endured another round of sharp depreciation earlier on the day.
USD/JPY fell from above 125.00 all the way to a low of 123.86 in recent dealings. At time of writing, the pair is trading at 123.93, recording a 0.94% loss on the day.
USD/JPY levels to watch
In terms of technical levels, immediate supports are seen at 123.86 (Aug 12 low), 123.59 (50-day SMA) and 123.32 (Jul 29 low). On the other hand, resistances could be found at 124.10 (21-day SMA), 124.51 (Aug 11 low) and 125.27 (Aug 12 high).