10 Jan 2014
USD/JPY drops briefly below 104.00
FXstreet.com (Córdoba) - The USD/JPY extended its decline to levels sub 104.00 as awful US nonfarm payrolls numbers hit the dollar that slumped across the board.
The USD/JPY fell sharply and even though it managed to pause losses above 104.00 it finally came under renewed pressure and hit a 2-week low of 103.83 in recent dealings. At time of writing, the pair is trading at the 104.05 area, recording a 0.7% loss on the day and an equal decline this week, after repeated failure to hold above the 105.00 mark.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports are at 103.83 (Jan 10 low), 103.76 (Dec 23 low) and On the other hand, resistances are seen at 105.32 (Jan 10 high), 105.44 (2014 high Jan 2) and 105.50 (Oct 6 2008 high).
The USD/JPY fell sharply and even though it managed to pause losses above 104.00 it finally came under renewed pressure and hit a 2-week low of 103.83 in recent dealings. At time of writing, the pair is trading at the 104.05 area, recording a 0.7% loss on the day and an equal decline this week, after repeated failure to hold above the 105.00 mark.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports are at 103.83 (Jan 10 low), 103.76 (Dec 23 low) and On the other hand, resistances are seen at 105.32 (Jan 10 high), 105.44 (2014 high Jan 2) and 105.50 (Oct 6 2008 high).