8 Apr 2015
USD/JPY subdued below 120
FXStreet (Mumbai) - USD/JPY keeps BOJ Kuroda-backed losses, although recovered half its slide as the yen continues to outperform the US dollar ahead of FOMC minutes due later today.
USD/JPY supported at 119.70
Currently, the USD/JPY pair trades -0.32% lower at 119.93 levels, retreating from fresh session lows posted at 119.70. The USD/JPY pair remains in red largely on the back of extended losses seen in the US dollar against its major competitors, with the DXY losing to the tune of -0.52% at 97.74.
USD/JPY also dropped on BOJ Governor Kuroda’s comments which send an optimistic message at his post- monetary policy meeting news conference, despite slowing inflation and recent signs of weakness in the economy.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.32 (Today’s High) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.50 (5-DMA) below that at 119.22 (100-DMA) levels.
USD/JPY supported at 119.70
Currently, the USD/JPY pair trades -0.32% lower at 119.93 levels, retreating from fresh session lows posted at 119.70. The USD/JPY pair remains in red largely on the back of extended losses seen in the US dollar against its major competitors, with the DXY losing to the tune of -0.52% at 97.74.
USD/JPY also dropped on BOJ Governor Kuroda’s comments which send an optimistic message at his post- monetary policy meeting news conference, despite slowing inflation and recent signs of weakness in the economy.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.32 (Today’s High) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.50 (5-DMA) below that at 119.22 (100-DMA) levels.