23 Dec 2013
USD/JPY edges lower in quiet session
FXstreet.com (Córdoba) - The USD/JPY edged lower and retested Friday's lows as markets move into holiday mode.
Having spent the last couple of sessions within a 20-pip range around 104.00, the USD/JPY stretched lower and hit a low of 103.85, roughly at the same level it bottomed out on Friday. At time of writing, the USD/JPY is trading at the 103.90 zone, a few pips below its opening price, ahead of US personal income, spending data and the Chicago Fed National Activity Index.
USD/JPY levels to watch
As for technical levels, the USD/JPY could find immediate supports at 103.85 (Dec 23 & 20 lows), 103.70 (100-hour SMA) and 103.40 (10-day SMA). On the other hand, resistances are seen at 104.07 (daily high), 104.35 (Dec 18 & 19 highs) and 104.63 (5-year high Dec 20).
Having spent the last couple of sessions within a 20-pip range around 104.00, the USD/JPY stretched lower and hit a low of 103.85, roughly at the same level it bottomed out on Friday. At time of writing, the USD/JPY is trading at the 103.90 zone, a few pips below its opening price, ahead of US personal income, spending data and the Chicago Fed National Activity Index.
USD/JPY levels to watch
As for technical levels, the USD/JPY could find immediate supports at 103.85 (Dec 23 & 20 lows), 103.70 (100-hour SMA) and 103.40 (10-day SMA). On the other hand, resistances are seen at 104.07 (daily high), 104.35 (Dec 18 & 19 highs) and 104.63 (5-year high Dec 20).