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Forex pairs in this Article » USD/JPY
FXStreet (Edinburgh) - The USD/JPY continues to trade in the defensive camp on Tuesday, hovering over 102.30/25 ahead of US data.

USD/JPY extends the correction lower

The pair is thus extending its intraday decline from session peaks near 102.60 while market participants would wait for the US data releases: Consumer Confidence (80.0 exp.) and the S&P/Case-Shiller index (13.3% exp.). “The US dollar is likely to derive support in the coming months when economic growth in the US accelerates as the negative impact from the bad weather eases, although US economic data may continue to disappoint in the near-term”, argued Lee Hardman, Currency Analyst at BTMU.

USD/JPY levels to watch

At the moment the pair is down 0.21% at 102.24 with the next support at 102.11 (Tenkan Sen) ahead of the psychological mark at 102.00. On the other hand, a break above 102.80 (Kijun Sen) would target 102.83 (high Feb.21) en route to 102.94 (high Jan.31).
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