23 Mar 2015
USD/JPY extends decline to 119.60
FXStreet (Tokyo) - The US dollar is extending its decline versus the Japanese Yen and after falling 60 pips from the 120.15 priced in the European morning, the USD/JPY is now testing daily lows at 119.60.
Currently, USD/JPY is trading at 119.64, down 0.32% on the day, having posted a daily high at 120.18 and low at 119.58. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY Forecast
Leading analyst at FBS Elizaveta Belugina affirmed in the USD/JPY Forecast Poll that "although the medium-term outlook is positive, right now USD/JPY has few drivers for a decisive growth."
On the other hand, Anil Panchal from Admiral Markets commented that the USD/JPY continues "maintaining the ascending trend channel, signaling an up-move. But the gains are restricted till 122.30."
US dollar to Yen exchange rate levels
If the pair manages to break below 119.60, it will find next supports at 119.30, 119.00 and 118.80. To the upside, resistances are at 119.80, 119.90 and 120.15.
Currently, USD/JPY is trading at 119.64, down 0.32% on the day, having posted a daily high at 120.18 and low at 119.58. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY Forecast
Leading analyst at FBS Elizaveta Belugina affirmed in the USD/JPY Forecast Poll that "although the medium-term outlook is positive, right now USD/JPY has few drivers for a decisive growth."
On the other hand, Anil Panchal from Admiral Markets commented that the USD/JPY continues "maintaining the ascending trend channel, signaling an up-move. But the gains are restricted till 122.30."
US dollar to Yen exchange rate levels
If the pair manages to break below 119.60, it will find next supports at 119.30, 119.00 and 118.80. To the upside, resistances are at 119.80, 119.90 and 120.15.