13 Aug 2015
USD/JPY fails to hold at highs
FXStreet (Córdoba) - USD/JPY has retraced some of its intraday gains, after staging a decent comeback from yesterday lows, underpinned by PBoC indicating that the currency adjustment is nearly complete and solid US retail sales.
USD/JPY peaked at 124.62 following the release of retail sales figures, which added fuel to September Fed hike expectation. However, the greenback lost momentum and USD/JPY pulled back to the 124.25 zone.
At time of writing, the pair is trading at 124.42, still up 0.19% on the day and having recovered from a low of 123.78 struck on Wednesday.
USD/JPY technical levels
In terms of technical levels, next resistances could be found at 124.59 (Aug 13 high), 125.27 (Aug 12 high) and 125.66 (Jun 8 high). On the other hand, immediate supports are seen at 123.78 (Aug 12 low), 123.60 (50-day SMA) and 123.32 (Jul 29 low).
USD/JPY peaked at 124.62 following the release of retail sales figures, which added fuel to September Fed hike expectation. However, the greenback lost momentum and USD/JPY pulled back to the 124.25 zone.
At time of writing, the pair is trading at 124.42, still up 0.19% on the day and having recovered from a low of 123.78 struck on Wednesday.
USD/JPY technical levels
In terms of technical levels, next resistances could be found at 124.59 (Aug 13 high), 125.27 (Aug 12 high) and 125.66 (Jun 8 high). On the other hand, immediate supports are seen at 123.78 (Aug 12 low), 123.60 (50-day SMA) and 123.32 (Jul 29 low).