5 Jan 2015
USD/JPY falls below 120.00
FXStreet (Mumbai) - The USD/JPY pair has extended losses to trade below the 120.00 mark, tracking the weakness in the US index futures and the Treasury yields.
The pair now trades 0.56% lower at 119.82 levels, compared to the Asian session level of 120.40-120.50. The Yen is gaining strength on signs of weakness in the US equity markets. The S&P futures are down 0.42% at the time of writing; indicating a weak start to the trading session. Moreover, the major European stock markets have extended losses as well. The Dax is down 1.43%, followed by a 1.02% fall in the Ftse. Meanwhile, the 10-year Treasury yield in the US is down 2.1 basis points at 2.102%.
USD/JPY Technical Levels
The pair has immediate support located at 119.26, under which it could test 118.65 (50-DMA) levels. Meanwhile, resistance is seen at 120.10-120.18 (5-DMA and 10-DMA) and 120.66 levels.
The pair now trades 0.56% lower at 119.82 levels, compared to the Asian session level of 120.40-120.50. The Yen is gaining strength on signs of weakness in the US equity markets. The S&P futures are down 0.42% at the time of writing; indicating a weak start to the trading session. Moreover, the major European stock markets have extended losses as well. The Dax is down 1.43%, followed by a 1.02% fall in the Ftse. Meanwhile, the 10-year Treasury yield in the US is down 2.1 basis points at 2.102%.
USD/JPY Technical Levels
The pair has immediate support located at 119.26, under which it could test 118.65 (50-DMA) levels. Meanwhile, resistance is seen at 120.10-120.18 (5-DMA and 10-DMA) and 120.66 levels.