25 Mar 2015
USD/JPY hovers around 119.60, weaker treasury yields weigh
FXStreet (Barcelona) - The US dollar keeps losses against the yen in the early European morning, resuming its downward correction trend post FOMC, mainly on the back of a subdued US dollar across the board as traders await fresh incentives from the session ahead.
USD/JPY capped by 5-DMA
Currently, the USD/JPY trades pair lower by -0.11% at 119.62 levels, remaining near fresh session lows of 119.59 levels couple of hours ago. USD/JPY remains in red ahead of Europe open largely on falling short term US treasury yields standing at 0.583%, down -2.08% on the day, which continues to weigh on the greenback.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies is lower by -0.10% at 97.33 levels. Meanwhile, traders now switch their attention on the crucial US consumer durables data later today which may provide fresh cues on USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.82 (Today’s High) levels and above which it could extend gains 120 levels. To the downside immediate support might be located at 119.44 (50-DMA) levels, below that at 119.24 (100-DMA) levels.
USD/JPY capped by 5-DMA
Currently, the USD/JPY trades pair lower by -0.11% at 119.62 levels, remaining near fresh session lows of 119.59 levels couple of hours ago. USD/JPY remains in red ahead of Europe open largely on falling short term US treasury yields standing at 0.583%, down -2.08% on the day, which continues to weigh on the greenback.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies is lower by -0.10% at 97.33 levels. Meanwhile, traders now switch their attention on the crucial US consumer durables data later today which may provide fresh cues on USD/JPY.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.82 (Today’s High) levels and above which it could extend gains 120 levels. To the downside immediate support might be located at 119.44 (50-DMA) levels, below that at 119.24 (100-DMA) levels.