23 Apr 2014
USD/JPY under pressure
FXStreet (Córdoba) - The USD/JPY came under pressure and dropped to fresh daily lows, weighed by Nikkei futures decline.
After spending most of the day around 102.50, the USD/JPY broke below the 100-hour SMA, triggering stops and falling to a low of 102.16 before finding support at the 200-hour SMA. At time of writing, the pair is trading at the 102.25, recording a 0.34% loss on the day.
USD/JPY levels to watch
If the USD/JPY breaks below 102.16, next supports are seen at 102.00 (psychological level) and 101.85 (Apr 17 low). On the other hand, resistances are seen at 102.71 (Apr 22 high), 102.88 (100-day SMA) and 103.00 (psychological level).
After spending most of the day around 102.50, the USD/JPY broke below the 100-hour SMA, triggering stops and falling to a low of 102.16 before finding support at the 200-hour SMA. At time of writing, the pair is trading at the 102.25, recording a 0.34% loss on the day.
USD/JPY levels to watch
If the USD/JPY breaks below 102.16, next supports are seen at 102.00 (psychological level) and 101.85 (Apr 17 low). On the other hand, resistances are seen at 102.71 (Apr 22 high), 102.88 (100-day SMA) and 103.00 (psychological level).