22 Jan 2015
USD/JPY wavers around 118
FXStreet (Mumbai) - The USD/JPY pair turned in red, although trades flattish in the European morning, having wiped out previous session gains as the expected ECB decision may provide fresh cues for the pair.
Currently, the USD/JPY pair trades almost unchanged at 117.95 levels, having previously hit day’s high at 118.34 levels. The USD/JPY pair is trading mildly lower as traders look for fresh directions from the upcoming ECB monetary decision. Meanwhile, US unemployment claims later in the day may also bring in some incentives for further momentum in USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.34 (Today’s High) levels and above which it could extend gains 118.86 levels. To the downside immediate support might be located at 117.53 (Jan 13 Low) levels, below that at117.22 (Nov 27 Low) levels.
Currently, the USD/JPY pair trades almost unchanged at 117.95 levels, having previously hit day’s high at 118.34 levels. The USD/JPY pair is trading mildly lower as traders look for fresh directions from the upcoming ECB monetary decision. Meanwhile, US unemployment claims later in the day may also bring in some incentives for further momentum in USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.34 (Today’s High) levels and above which it could extend gains 118.86 levels. To the downside immediate support might be located at 117.53 (Jan 13 Low) levels, below that at117.22 (Nov 27 Low) levels.