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22 Apr 2015
USD/JPY off lows near 119.50
FXStreet (Mumbai) - The US dollar fell further in to losses against the yen in the early European trades, knocking-off USD/JPY to fresh session lows at 119.46, mainly driven by an extended US dollar corrective slide from the previous session.
USD/JPY trades circa hourly 200-MA
Currently, the USD/JPY pair trades -0.15% lower at 119.50 levels, hovering near fresh session lows at 119.46. The USD/JPY pair resumed its softer tone this morning as the US dollar witnessed a sharp sell-off as sellers attacked at Europe open.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies dropped to fresh session lows at 97.94, recording a -0.22% loss on the day.
USD/JPY came under additional pressure after the yields on the longer duration and shorter duration US treasuries fell further in to losses dragging to session lows.
Looking ahead, the report on existing home sales is scheduled for today, while weekly figures for initial jobless claims and an update on new home sales are set for Thursday. Durable goods orders will attract traders on Friday.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.78 (Today’s High) levels and above which it could extend gains 120 levels. To the downside immediate support might be located at 119 below that at 118.76 (April 15 Low) levels.
USD/JPY trades circa hourly 200-MA
Currently, the USD/JPY pair trades -0.15% lower at 119.50 levels, hovering near fresh session lows at 119.46. The USD/JPY pair resumed its softer tone this morning as the US dollar witnessed a sharp sell-off as sellers attacked at Europe open.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies dropped to fresh session lows at 97.94, recording a -0.22% loss on the day.
USD/JPY came under additional pressure after the yields on the longer duration and shorter duration US treasuries fell further in to losses dragging to session lows.
Looking ahead, the report on existing home sales is scheduled for today, while weekly figures for initial jobless claims and an update on new home sales are set for Thursday. Durable goods orders will attract traders on Friday.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.78 (Today’s High) levels and above which it could extend gains 120 levels. To the downside immediate support might be located at 119 below that at 118.76 (April 15 Low) levels.