23 Jan 2014
USD/JPY erases daily gains
FXstreet.com (Córdoba) - Once again, the USD/JPY bullish attempt seen during the Asian session stalled ahead of the 105.00 mark, reinforcing the 104.80/90 resistance area.
The USD/JPY reached a high of 104.83 but lost momentum and turned lower having erased intraday gains during the European session. At time of writing, the USD/JPY is trading at the 104.30 area, virtually unchanged since opening.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 104.20 (Jan 23 low) and 103.85 (Jan 20 low). On the other hand, resistances are seen at 104.83/91 (Jan 23 & 16 highs), 105.00 (psychological level) and 105.32 (Jan 10 high).
The USD/JPY reached a high of 104.83 but lost momentum and turned lower having erased intraday gains during the European session. At time of writing, the USD/JPY is trading at the 104.30 area, virtually unchanged since opening.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 104.20 (Jan 23 low) and 103.85 (Jan 20 low). On the other hand, resistances are seen at 104.83/91 (Jan 23 & 16 highs), 105.00 (psychological level) and 105.32 (Jan 10 high).