15 Jul 2014
USD/JPY collapses on Yellen and Banco Espirito Santo rumors
FXStreet (San Francisco) - After jumping to daily highs following US data, the USD/JPY got a hit from Fed's Yellen and, specially, the talks on Espirito Santo Group’s holding company Rioforte would be preparing to file for bankruptcy.
According to Reuters source, Rioforte is preparing the stuff to file for creditor protection in Luxembourg.
The USD/JPY fell 20 pips from 101.65 to break below 101.50 and to trade at 101.40, lowest since July 14. Currently, USD/JPY is trading at 101.55, up 0.02% on the day, having posted a daily high at 101.66 and low at 101.43.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish.
USD/JPY levels
If the pair continues with its decline, it would find supports at 101.40, 101.25 and 101.05. On the upside, resistances are at 101.65, 101.85 and 102.00.
According to Reuters source, Rioforte is preparing the stuff to file for creditor protection in Luxembourg.
The USD/JPY fell 20 pips from 101.65 to break below 101.50 and to trade at 101.40, lowest since July 14. Currently, USD/JPY is trading at 101.55, up 0.02% on the day, having posted a daily high at 101.66 and low at 101.43.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish.
USD/JPY levels
If the pair continues with its decline, it would find supports at 101.40, 101.25 and 101.05. On the upside, resistances are at 101.65, 101.85 and 102.00.