24 Mar 2015
USD/JPY falls to test FOMC lows
FXStreet (Córdoba) - USD/JPY dropped further during the European session and recently printed a fresh daily low at 119.34, approaching last Wednesday’s low when it bottomed at 119.30, following the FOMC statement and Janet Yellen press conference.
The pair remains under pressure near the low sas the US dollar consolidates losses across the board. Stocks in Europe are rising after better-than-expected economic data from the Eurozone while crude oil is rising for the fifth day in a row.
USD/JPY levels to watch
If it falls below 119.30, USD/JPY would be trading at the lowest since February 27. The next support might lie at 119.10 and 118.60 (Feb 25 low). On the opposite direction resistance might lie at 119.55 (Mar 23 low) and 119.90 (daily high).
The pair remains under pressure near the low sas the US dollar consolidates losses across the board. Stocks in Europe are rising after better-than-expected economic data from the Eurozone while crude oil is rising for the fifth day in a row.
USD/JPY levels to watch
If it falls below 119.30, USD/JPY would be trading at the lowest since February 27. The next support might lie at 119.10 and 118.60 (Feb 25 low). On the opposite direction resistance might lie at 119.55 (Mar 23 low) and 119.90 (daily high).