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3 Sep 2015
USD/JPY capped by 120.40, back below 120.00
FXStreet (Córdoba) - USD/JPY dropped back below 120.00 and is moving toward daily lows. Earlier it bottomed at 119.62 but then jumped back above 120.00. The recovery found from the lows found resistance around 120.40 where the hourly 20-SMA stands.
During the last three hours, Greenback lost strength and pulled back versus European currencies and the yen, but it trimmed losses against the aussie and the loonie.
The yen gained momentum against the US dollar as stocks in Wall Street move away from the highs. The Dow Jones is up by just 20 points, after being up 200. After the ECB decision today, trader’s attention now turns to the official US employment report.
USD/JPY technical levels
To the downside, immediate support might be seen around 119.60/65 (Sept 2, 3 low) and below here at 119.20 (Sep 1 low). On the opposing direction resistance could be located at 120.40 and above here at 120.75 ( daily high) and 121.05.
During the last three hours, Greenback lost strength and pulled back versus European currencies and the yen, but it trimmed losses against the aussie and the loonie.
The yen gained momentum against the US dollar as stocks in Wall Street move away from the highs. The Dow Jones is up by just 20 points, after being up 200. After the ECB decision today, trader’s attention now turns to the official US employment report.
USD/JPY technical levels
To the downside, immediate support might be seen around 119.60/65 (Sept 2, 3 low) and below here at 119.20 (Sep 1 low). On the opposing direction resistance could be located at 120.40 and above here at 120.75 ( daily high) and 121.05.