15 Apr 2014
USD/JPY retracing from 102.00 to fresh daily lows
FXStreet (Buenos Aires) - Yen advances against the greenback, as stocks erase early intraday gains and enter negative territory following the release of housing data in the US: builder confidence missed expectations while previous month number was revised down.
Sellers around 102.00
The USD/JPY flirted with 102.00 with the US opening, yet once again sellers around the level halted the advance, triggering a bearish retracement that is now extending to fresh daily lows sub 101.60. Breaking below its 100 SMA in the hourly chart, now immediate intraday resistance around 101.70, immediate support comes at 101.31, past April 11th daily low, followed by the 101.00 figure.
Yen is also strengthening against the Euro, with the EUR/JPY giving up its latest gains and accelerating towards it daily low of 140.29 posted early European session. Next support comes at 104.07, past April 8th daily low.
Sellers around 102.00
The USD/JPY flirted with 102.00 with the US opening, yet once again sellers around the level halted the advance, triggering a bearish retracement that is now extending to fresh daily lows sub 101.60. Breaking below its 100 SMA in the hourly chart, now immediate intraday resistance around 101.70, immediate support comes at 101.31, past April 11th daily low, followed by the 101.00 figure.
Yen is also strengthening against the Euro, with the EUR/JPY giving up its latest gains and accelerating towards it daily low of 140.29 posted early European session. Next support comes at 104.07, past April 8th daily low.