20 Feb 2015
USD/JPY approaches weekly lows
FXStreet (Córdoba) - USD/JPY has fallen to fresh daily lows at the beginning of the American session as a cautious tone dominates markets as Eurogroup and Greece continue to negotiate a loan agreement.
USD/JPY is tracking US Tsy yields down, having dropped to a 3-day low of 118.29 in recent dealings despite above expectations Markit manufacturing PMI data. With the calendar empty for the rest of the day, Greek headlines will likely drive price action during the next hours. The Eurogroup is scheduled to meet at 16:30 GMT.
USD/JPY is currently trading at the 118.35 zone, recording a 0.48% loss on the day. The pair is also on track to post its second weekly loss in a row, extending a correction from above 120.00.
USD/JPY technical levels
As for technical levels, immediate supports are seen at 118.23 (Feb 17 low) and 118.00 (psychological level). On the flip side, resistances could be found at 118.77 (intraday level), 119.00/05 (psychological level/200-hour SMA) and 119.17 (Feb 19 high).
USD/JPY is tracking US Tsy yields down, having dropped to a 3-day low of 118.29 in recent dealings despite above expectations Markit manufacturing PMI data. With the calendar empty for the rest of the day, Greek headlines will likely drive price action during the next hours. The Eurogroup is scheduled to meet at 16:30 GMT.
USD/JPY is currently trading at the 118.35 zone, recording a 0.48% loss on the day. The pair is also on track to post its second weekly loss in a row, extending a correction from above 120.00.
USD/JPY technical levels
As for technical levels, immediate supports are seen at 118.23 (Feb 17 low) and 118.00 (psychological level). On the flip side, resistances could be found at 118.77 (intraday level), 119.00/05 (psychological level/200-hour SMA) and 119.17 (Feb 19 high).