10 Mar 2015
USD/JPY: recovery finds resistance at 121.35
FXStreet (Córdoba) - USD/JPY bottomed earlier at 120.89, reaching a 2-day low but rebounded after Wall Street opening bell. The recovery from the lows found resistance at 121.35 and the pair moved back toward 121.00.
Currently trades at 121.03, down 0.10% for the day. The decline seems modest but earlier greenback reached at 122.01, the highest level since 2007; then retreated more than a hundred pips.
Now the US dollar is about to post the first daily loss after rising during the previous three trading days, boosted by the NFP report. The Japanese currency is among the best performers across the board as stocks decline sharply in Wall Street. The Dow Jones was falling 1.40% and the Nasdaq was losing 1.20%.
Currently trades at 121.03, down 0.10% for the day. The decline seems modest but earlier greenback reached at 122.01, the highest level since 2007; then retreated more than a hundred pips.
Now the US dollar is about to post the first daily loss after rising during the previous three trading days, boosted by the NFP report. The Japanese currency is among the best performers across the board as stocks decline sharply in Wall Street. The Dow Jones was falling 1.40% and the Nasdaq was losing 1.20%.