20 Feb 2015
USD/JPY wavers near lows at 118.87
FXStreet (Mumbai) - USD/JPY trades flattish and holds above 118.80 levels in the mid-Asian session, continuing its overnight choppy trend amid a data-light day.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades modestly flat at 118.89 levels, having posted fresh session lows at 118.87 and day’s high at 119.09. The pair hovers around session lows in a quiet Asian session amid lack of fresh triggers in absence of significant economic releases for the pair in the day ahead. However, yen may receive some support against the US dollar ahead of Greece-Euro group meeting on Greek debt extension talks later today may spark risk-off sentiments boosting safe-haven bids for the Japanese currency.
Meanwhile, mixed US macro data released in the US last session may continue to weigh on the greenback, which is likely to restrict the upside in USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.08 (10-DMA) levels and above which it could extend gains 119.20 levels. To the downside immediate support might be located at 118.51 (20-DMA) levels, below that at 118 levels.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades modestly flat at 118.89 levels, having posted fresh session lows at 118.87 and day’s high at 119.09. The pair hovers around session lows in a quiet Asian session amid lack of fresh triggers in absence of significant economic releases for the pair in the day ahead. However, yen may receive some support against the US dollar ahead of Greece-Euro group meeting on Greek debt extension talks later today may spark risk-off sentiments boosting safe-haven bids for the Japanese currency.
Meanwhile, mixed US macro data released in the US last session may continue to weigh on the greenback, which is likely to restrict the upside in USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.08 (10-DMA) levels and above which it could extend gains 119.20 levels. To the downside immediate support might be located at 118.51 (20-DMA) levels, below that at 118 levels.