3 Jul 2015
USD/JPY drops to 122.60
FXStreet (Mumbai) - The bid tone on the JPY strengthened further, taking the USD/JPY pair to a fresh session low of 122.60 as safe havens remain resilient ahead of Greek referendum on Sunday.
Offered below hourly 100-MA
The pair was offered after it failed to sustain above the 100-MA on the hourly time frame located at 122.82. The safe haven Yen may have found some love after the latest Greek poll from AVGI news showed a tight contest between the Yes vote and No vote.
Meanwhile, there are also reports of violence in Athens, although it has not led to a sharp rise in risk aversion till now. However, the strength in the Yen is driving the USD is helping other majors to sustain gains against the USD.
USD/JPY Technical Levels
The pair currently trades at 122.66. The immediate support is located at 122.56 (50-DMA), followed by another support at 121.94 (June 30 low). On the other hand, resistance is seen at 123.21 (10-DMA) and 123.86.
Offered below hourly 100-MA
The pair was offered after it failed to sustain above the 100-MA on the hourly time frame located at 122.82. The safe haven Yen may have found some love after the latest Greek poll from AVGI news showed a tight contest between the Yes vote and No vote.
Meanwhile, there are also reports of violence in Athens, although it has not led to a sharp rise in risk aversion till now. However, the strength in the Yen is driving the USD is helping other majors to sustain gains against the USD.
USD/JPY Technical Levels
The pair currently trades at 122.66. The immediate support is located at 122.56 (50-DMA), followed by another support at 121.94 (June 30 low). On the other hand, resistance is seen at 123.21 (10-DMA) and 123.86.