25 May 2015
USD/JPY falls into losses
FXStreet (Mumbai) - The USD/JPY pair fell into losses as it trades at 121.50 levels after it ran into offers above 121.70 levels.
Yen rebounds, will it sustain?
The Japanese Yen recovered losses, although it remains to be seen if the currency manages to sustain its gains against the USD in the absence of fresh macroeconomic data releases out of the US. The currency pair also lacks cues from the related markets like the US Treasuries on account of trading holiday.
Traders now await the US durable goods orders report, services PMI report and consumer confidence due for release on Tuesday.
USD/JPY Technical Levels
The immediate support is located at 121.35 (5-DMA), under which losses could be extended to 120.65. On the flip side, a break above the daily high at 121.76 could drive the pair higher to 122.00 (Mar. 10 high).
Yen rebounds, will it sustain?
The Japanese Yen recovered losses, although it remains to be seen if the currency manages to sustain its gains against the USD in the absence of fresh macroeconomic data releases out of the US. The currency pair also lacks cues from the related markets like the US Treasuries on account of trading holiday.
Traders now await the US durable goods orders report, services PMI report and consumer confidence due for release on Tuesday.
USD/JPY Technical Levels
The immediate support is located at 121.35 (5-DMA), under which losses could be extended to 120.65. On the flip side, a break above the daily high at 121.76 could drive the pair higher to 122.00 (Mar. 10 high).