23 Jan 2014
USD/JPY falls to 9-day low after US data
FXstreet.com (Córdoba) - The USD/JPY broke below the 103.85 support area and fell to fresh lows, weighed by the latest string of US data.
US jobless claims came in flat, in line with expectations, while the US Markit Manufacturing PMI declined in January and the housing price index grew less than expected in November. Against this backdrop, the greenback weakened broadly and printed an 8-day low versus the yen. The USD/JPY fell more than 40 pips after the data and hit a low of 103.65 before finding support.
USD/JPY next supports & resistances
At time of writing, the USD/JPY is trading around 103.75, recording a 0.7% loss on the day. In terms of technical levels, the USD/JPY could find immediate supports at 103.65 (Jan 23 low) and not much until 103.00 (psychological level). 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).
US jobless claims came in flat, in line with expectations, while the US Markit Manufacturing PMI declined in January and the housing price index grew less than expected in November. Against this backdrop, the greenback weakened broadly and printed an 8-day low versus the yen. The USD/JPY fell more than 40 pips after the data and hit a low of 103.65 before finding support.
USD/JPY next supports & resistances
At time of writing, the USD/JPY is trading around 103.75, recording a 0.7% loss on the day. In terms of technical levels, the USD/JPY could find immediate supports at 103.65 (Jan 23 low) and not much until 103.00 (psychological level). 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).