27 May 2014
USD/JPY trim gains, falls to 101.95
FXStreet (Córdoba) - The USD/JPY peaked at 102.13 after the release of US economic data, reaching the strongest level since May 14 but afterwards weakened and pulled back trimming gains. Price failed to hold above 102.00 and currently trades at 101.95, up just 0.03% from yesterday’s closing price.
The US dollar weakened across the board during the second half of the American session and retreated as Wall Street consolidates gains with the S&P 500 at record highs.
USD/JPY outlook
The pair continues to move with a short term upside bias, extending the rally after bottoming last week below 101.00. Momentum still favors the US dollar but so far is having difficulties breaking above 102.00.
The US dollar weakened across the board during the second half of the American session and retreated as Wall Street consolidates gains with the S&P 500 at record highs.
USD/JPY outlook
The pair continues to move with a short term upside bias, extending the rally after bottoming last week below 101.00. Momentum still favors the US dollar but so far is having difficulties breaking above 102.00.