USD/JPY falls to daily lows

By FXstreet.com | Updated August 21, 2014 AAA

FXStreet (San Francisco) - The US Dollar is trading under pressure following a set of better than expected US data. Against the Japanese Yen, the greenback is testing daily lows around 103.60.



The USD/JPY was testing lows of short term 103.75/95 range throughout the day; but now it's tasting below it. Currently, USD/JPY is trading at 103.72, down -0.03% on the day, having posted a daily high at 103.97 and low at 103.60.



The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.



USD/JPY sentiment



"Looks like the USD rally is running out of energy. Despite very solid data across the board, the dollar is in consolidation mode," Jamie Coleman from FXBeat comments. "US yields are lower on the day, as well. with 10s now at 2.417%."



Coleman looks for "bids on dips to 103.40 in USD/JPY."



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    Japanese Yen May Resume Recovery on Year-End Capital Flows

  3. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  4. Forex News

    USD/JPY rises to 1-week highs

  5. Forex News

    USD/JPY: heading to 121.85? - Scotiabank

Trading Center