17 Jul 2014
USD/JPY reverses and falls to 101.25
FXStreet (Córdoba) - The USD/JPY reversed sharply after reaching 101.56 and turned to the downside as US government bond yields decline and amid risk aversion. Price recently bottomed at 101.25, the lowest price since last Friday.
Currently trades at 101.34, down 30 pips from today’s opening price. The US dollar is having the worst day since late June against the Yen.
USD/JPY levels to watch
At the moment the USD/JPY is rebounding from 101.25. “Bids return in the 101.00/10 area, a spot where Japanese semi-official accounts were rumored to have been active last week”, said Jamie Coleman from FXBeat.
To the upside , immediate resistance lies around American session highs at 101.55/60 followed by 101.75.
Currently trades at 101.34, down 30 pips from today’s opening price. The US dollar is having the worst day since late June against the Yen.
USD/JPY levels to watch
At the moment the USD/JPY is rebounding from 101.25. “Bids return in the 101.00/10 area, a spot where Japanese semi-official accounts were rumored to have been active last week”, said Jamie Coleman from FXBeat.
To the upside , immediate resistance lies around American session highs at 101.55/60 followed by 101.75.