26 Aug 2015
119.00 held USD/JPY; back to 119.60; yet 500 pips down in a week
FXStreet (Newport) - The USD/JPY found support at 119.00 after falling from 119.90 in the American morning. Pair is now trading at 119.60 as it is recovering almost all its previous losses.
The USD/JPY is trading positive for second day after the Monday 600-pips meltdown from 122.00 to a low of 116.00. The pair managed to recover some losses the same Monday, and extended its recovery the next two days, but it remains far from a completely recovery from August 24 collapsed.
The collapse in the USD/JPY started a week ago on August 19 when the pair was pricing at 124.50; now it is trading at 119.60, almost 500 pips negative in a week. As reference, the US Dollar Index $DXY fell from 97.00 in August 19 to 92.60 the last Monday; now the DXY is pricing at 94.78.
Currently, USD/JPY is trading at 119.70, up 0.74% on the day, having posted a daily high at 119.93 and low at 118.45. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY levels
If the USD/JPY managed to extend its bounce from 119.00, it will find resistances at 119.90, 120.10 and 120.40. To the downside, supports are at 119.20, 119.00 and 118.50.
The USD/JPY is trading positive for second day after the Monday 600-pips meltdown from 122.00 to a low of 116.00. The pair managed to recover some losses the same Monday, and extended its recovery the next two days, but it remains far from a completely recovery from August 24 collapsed.
The collapse in the USD/JPY started a week ago on August 19 when the pair was pricing at 124.50; now it is trading at 119.60, almost 500 pips negative in a week. As reference, the US Dollar Index $DXY fell from 97.00 in August 19 to 92.60 the last Monday; now the DXY is pricing at 94.78.
Currently, USD/JPY is trading at 119.70, up 0.74% on the day, having posted a daily high at 119.93 and low at 118.45. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY levels
If the USD/JPY managed to extend its bounce from 119.00, it will find resistances at 119.90, 120.10 and 120.40. To the downside, supports are at 119.20, 119.00 and 118.50.