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23 Jun 2015
USD/JPY reverses and drops back below 124.00
FXStreet (Córdoba) - USD/JPY lost momentum after Wall Street opening bell and pulled back trimming daily gains, retreating below 124.00.
USD/JPY up then down
Greenback rose against the yen and peaked at 124.18 despite a weak US durable goods orders report but boosted by Jerome Powell (Federal Reserve official) remarks. After hitting the highest level since last Wednesday los strength and pulled back.
Currently is trading below 123.80 at the lowest level since the begging of the American session but still 40 pips above yesterday’s closing price.
While stocks in the US are showing a mix performance, US bonds have erased losses during the last hour, rising sharply and favoring the yen across the board.
USD/JPY technical levels
To the upside, resistance might now lie at 124.00 and above here at 124.115/20 (daily high) and 124.45 (June 17 high). On the opposite direction support could be located at 123.50/55 (intraday level) and 123.30.
USD/JPY up then down
Greenback rose against the yen and peaked at 124.18 despite a weak US durable goods orders report but boosted by Jerome Powell (Federal Reserve official) remarks. After hitting the highest level since last Wednesday los strength and pulled back.
Currently is trading below 123.80 at the lowest level since the begging of the American session but still 40 pips above yesterday’s closing price.
While stocks in the US are showing a mix performance, US bonds have erased losses during the last hour, rising sharply and favoring the yen across the board.
USD/JPY technical levels
To the upside, resistance might now lie at 124.00 and above here at 124.115/20 (daily high) and 124.45 (June 17 high). On the opposite direction support could be located at 123.50/55 (intraday level) and 123.30.