21 Jul 2015
USD/JPY drops to lows near 123.80
FXStreet (Edinburgh) - The greenback is now accelerating its depreciation vs. its Japanese counterpart on Tuesday, sending USD/JPY to daily lows around 123.80.
USD/JPY down from 124.50
The pair keeps correcting lower after overnight tops in the mid-124.00s, following an increasing selling interest around the US dollar. The poor performance of US Treasuries since the European morning has been hurting the demand for the greenback, magnified amidst the current vacuum of data releases in the US economy.
Next of relevance in the pair will be US Existing Home Sales and Japanese trade balance figures, both due on Wednesday.
USD/JPY levels to consider
As of writing the pair is losing 0.59% at 123.80 with the next support at 123.38 (low Jul.15) ahead of 122.50 (low Jul.13) and finally 121.70 (low Jul.10). On the other hand, a break above 124.47 (high Jul.21) would open the door to 125.59 (high Jun.8) and then 125.85 (2015 high Jun.5).
USD/JPY down from 124.50
The pair keeps correcting lower after overnight tops in the mid-124.00s, following an increasing selling interest around the US dollar. The poor performance of US Treasuries since the European morning has been hurting the demand for the greenback, magnified amidst the current vacuum of data releases in the US economy.
Next of relevance in the pair will be US Existing Home Sales and Japanese trade balance figures, both due on Wednesday.
USD/JPY levels to consider
As of writing the pair is losing 0.59% at 123.80 with the next support at 123.38 (low Jul.15) ahead of 122.50 (low Jul.13) and finally 121.70 (low Jul.10). On the other hand, a break above 124.47 (high Jul.21) would open the door to 125.59 (high Jun.8) and then 125.85 (2015 high Jun.5).