6 Jul 2015
USD/JPY losses strength near 123.00
FXStreet (Córdoba) - USD/JPY hit earlier at 122.93 the highest level for the day. Then pulled back and found support above 122.50 from where it rose back toward daily highs. Currently it trades around 122.70, near the level it closed on Friday.
The pair lost strength near the 123.00 area and pulled back. But despite being unable to break above 123.00, it erased previous losses and it also closed a bearish gap.
Risk aversion and data
Today’s economic data form the US showed that the Markit’s Services PMI came in at 54.8 for June, unchanged from May and in line with expectations while the ISM Non Manufacturing rose from 55.7 to 56.0, below the 56.3 expected.
Stocks are falling in Europe, with main stocks indexes losing 1% on average. In Wall Street, the Dow Jones trimmed losses and it was losing just 0.10%, while the Nasdaq was down marginally 0.02%.
The pair lost strength near the 123.00 area and pulled back. But despite being unable to break above 123.00, it erased previous losses and it also closed a bearish gap.
Risk aversion and data
Today’s economic data form the US showed that the Markit’s Services PMI came in at 54.8 for June, unchanged from May and in line with expectations while the ISM Non Manufacturing rose from 55.7 to 56.0, below the 56.3 expected.
Stocks are falling in Europe, with main stocks indexes losing 1% on average. In Wall Street, the Dow Jones trimmed losses and it was losing just 0.10%, while the Nasdaq was down marginally 0.02%.