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."



Related Forex Analysis
  1. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  2. Yen Looks Past Japan Recession and Election Risk, Sentiment Trends Key
    Forex News

    Yen Looks Past Japan Recession and Election Risk, Sentiment Trends Key

  3. Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar
    Forex News

    Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar

  4. Strategy Video: A Volatile Thanksgiving Week for FX?
    Forex News

    Strategy Video: A Volatile Thanksgiving Week for FX?

  5. USD/JPY consolidates below 118.00
    Forex News

    USD/JPY consolidates below 118.00

Trading Center