25 Mar 2015
USD/JPY drops to 50-DMA
FXStreet (Mumbai) - The USD/JPY pair dropped closer to 50-DMA located at 119.40 levels ahead of the data in the Us, which could show durable goods orders growth slowed in February.
USD relatively resilient against the Yen
The USD/JPY pair has declined by 40 odd pips since the Asian session today. On the other hand, the EUR/USD pair and the GBP/USD rallied more than 50 pips each. The relative resilience of the USD against the JPY could have been due to the risk-on mood in the markets, which also caps gains in the Japanese Yen. Still, the weak US Treasury yields remain in favor of the Yen. The pair could extend the drop if the US durable goods orders fail to meet the market expectations.
USD/JPY Technical Levels
The pair currently trades at 119.46, with the immediate support located at 119.40 (50-DMA), 119.21 (100-DMA), and 119.00 levels. On the flip side, resistance is seen at 119.56 and 119.81 levels.
USD relatively resilient against the Yen
The USD/JPY pair has declined by 40 odd pips since the Asian session today. On the other hand, the EUR/USD pair and the GBP/USD rallied more than 50 pips each. The relative resilience of the USD against the JPY could have been due to the risk-on mood in the markets, which also caps gains in the Japanese Yen. Still, the weak US Treasury yields remain in favor of the Yen. The pair could extend the drop if the US durable goods orders fail to meet the market expectations.
USD/JPY Technical Levels
The pair currently trades at 119.46, with the immediate support located at 119.40 (50-DMA), 119.21 (100-DMA), and 119.00 levels. On the flip side, resistance is seen at 119.56 and 119.81 levels.