24 Feb 2015
USD/JPY strongly sold at 119.80; back to MAs region
FXStreet (San Francisco) - The USD/JPY was hit hard by Janeth Yellen's remarks and weak US consumer confidence data as the pair gave up earlier gains from the 119.00 area to be strongly sold at 119.80 just after the Fed's boss started to talk.
After declining around 70 pips from 12-day highs at 119.80, the USD/JPY returned to test MA-50 hours at 119.05 ahead of MA-200 hours at 118.95. Currently, USD/JPY is trading at 119.22, up 0.33% on the day, having posted a daily high at 119.85 and low at 118.74.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
If the pair holds above the 119.00 level, its recovery will find resistances at 119.40, 119.60 an 119.80. To the downside, a break below 119.00 will open the door to 118.90 and 118.70.
After declining around 70 pips from 12-day highs at 119.80, the USD/JPY returned to test MA-50 hours at 119.05 ahead of MA-200 hours at 118.95. Currently, USD/JPY is trading at 119.22, up 0.33% on the day, having posted a daily high at 119.85 and low at 118.74.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
If the pair holds above the 119.00 level, its recovery will find resistances at 119.40, 119.60 an 119.80. To the downside, a break below 119.00 will open the door to 118.90 and 118.70.