23 Mar 2015
USD/JPY eyes 50-DMA
FXStreet (Mumbai) - USD/JPY inched lower in the late Asian session, falling back on the 119 handle, largely on the back of a short-lived US dollar recovery across the board after heavy losses seen in the previous session.
USD/JPY rejected at 5-DMA
Currently, the USD/JPY trades lower by -0.13% at 119.87 levels, having posted fresh session lows at 119.76 some minutes ago. USD/JPY finally broke the 120 handle and reached fresh session lows as the greenback halted its recovery and erased all gains against its major peers. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies shaved-off gains and turned flat at 98.09 levels.
The yen regained strength versus the US dollar after BOJ Governor’s Kuroda had general exchange of views on the Japanese economy with PM Abe this morning, wherein he repeated his statement that economy remains on gradual recovery path and that there is no change in medium to long-term price trend.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.17 (5-DMA) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.66 (March 13 Low) levels, below that at 119.38 (50-DMA) levels.
USD/JPY rejected at 5-DMA
Currently, the USD/JPY trades lower by -0.13% at 119.87 levels, having posted fresh session lows at 119.76 some minutes ago. USD/JPY finally broke the 120 handle and reached fresh session lows as the greenback halted its recovery and erased all gains against its major peers. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies shaved-off gains and turned flat at 98.09 levels.
The yen regained strength versus the US dollar after BOJ Governor’s Kuroda had general exchange of views on the Japanese economy with PM Abe this morning, wherein he repeated his statement that economy remains on gradual recovery path and that there is no change in medium to long-term price trend.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.17 (5-DMA) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119.66 (March 13 Low) levels, below that at 119.38 (50-DMA) levels.