Forex: USD/JPY falls to 11-day low
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USD/JPY
FXstreet.com (Córdoba) - The US dollar fell to its lowest since late October against the yen, weighed by the negative turnaround in stocks as sentiment deteriorated amid reports that the EU could delay Greek aid talks.
USDJPY broke below the 79.75 area and hit an 11-day low of 79.65 before finding next support and bouncing slightly. At time of writing, USDJPY is quoting at 79.73/75, 0.3% below its opening price.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that immediate support now comes at 79.60, 200 DMA, followed by recent daily lows around 79.20. "Daily close below mentioned DMA will set the tone for a possible retest of the 78.80 area over the upcoming sessions, while a return above 80.00 will signal a short term bullish continuation in the pair", said Bednarik.
USDJPY broke below the 79.75 area and hit an 11-day low of 79.65 before finding next support and bouncing slightly. At time of writing, USDJPY is quoting at 79.73/75, 0.3% below its opening price.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that immediate support now comes at 79.60, 200 DMA, followed by recent daily lows around 79.20. "Daily close below mentioned DMA will set the tone for a possible retest of the 78.80 area over the upcoming sessions, while a return above 80.00 will signal a short term bullish continuation in the pair", said Bednarik.
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