8 May 2014
USD/JPY drops to 101.57, fresh low
FXStreet (Córdoba) - The USD/JPY weakened after the Wall Street opening and turned to the downside approaching yesterday’s lows. During Draghi’s press conference the pair rose to 101.85 but then reversed and dropped to 101.56, reaching a fresh daily low.
USD/JPY levels to watch
Since last Friday the pair remains under pressure. The decline so far found support around 101.40 (May 7 low); below the next area to consider lies at 101.20 (March 3 and 14 low) and then 100.70.
The immediate resistance is located between 101.85 and 102.00 that capped the upside in the last hours. Above here the US dollar could gain momentum and rise toward Monday’s highs that lie at 102.25.
USD/JPY levels to watch
Since last Friday the pair remains under pressure. The decline so far found support around 101.40 (May 7 low); below the next area to consider lies at 101.20 (March 3 and 14 low) and then 100.70.
The immediate resistance is located between 101.85 and 102.00 that capped the upside in the last hours. Above here the US dollar could gain momentum and rise toward Monday’s highs that lie at 102.25.