15 Sep 2015
USD/JPY keeps falling, at lows near 119.40
FXStreet (Mumbai) - The Japanese yen continues to hammer the US dollar in the European morning, now pushing USD/JPY to fresh session lows below 120.50 levels.
USD/JPY dragged lower by stronger yen
Currently, the USD/JPY pair trades -0.66% at fresh six-day lows of 119.41, down more than 100 pips from daily highs. The offered tone around the USD/JPY pair keeps growing bigger as markets continue to digest the latest optimistic comments from BOJ’s Kuroda with little hint on the Oct QQE chatter.
Moreover, the yen also remains strongly bid versus the greenback amid escalating risk-off trades as European indices remain in the red, tracking negative cues from their Asian counterparts.
Looking ahead, the pair will be influenced by the US retail sales, industrial production and regional manufacturing index ahead of Thursday Fed rate decision.
USD/JPY Technical levels to consider
To the upside, the next resistance is located 120.65 (Today’s High) levels and above which it could extend 121.34 (Sept 10 High). To the downside immediate support might be located at 119.20 (Sept 2 Low) below that at 118.83 (Sept 8 Low).
USD/JPY dragged lower by stronger yen
Currently, the USD/JPY pair trades -0.66% at fresh six-day lows of 119.41, down more than 100 pips from daily highs. The offered tone around the USD/JPY pair keeps growing bigger as markets continue to digest the latest optimistic comments from BOJ’s Kuroda with little hint on the Oct QQE chatter.
Moreover, the yen also remains strongly bid versus the greenback amid escalating risk-off trades as European indices remain in the red, tracking negative cues from their Asian counterparts.
Looking ahead, the pair will be influenced by the US retail sales, industrial production and regional manufacturing index ahead of Thursday Fed rate decision.
USD/JPY Technical levels to consider
To the upside, the next resistance is located 120.65 (Today’s High) levels and above which it could extend 121.34 (Sept 10 High). To the downside immediate support might be located at 119.20 (Sept 2 Low) below that at 118.83 (Sept 8 Low).