USD/JPY falls from highs to 101.60

By FXstreet.com | July 16, 2014 AAA

FXStreet (San Francisco) - The US dollar got a knock after weaker than expected economic data in US and now it is falling against the Japanese Yen.



After falling around 20 pips from 101.80, the USD/JPY is now testing the bottom of the recent range at 101.60. Currently, USD/JPY is trading at 101.65, down 0.02% on the day, having posted a daily high at 101.81 and low at 101.63.



USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.



USD/JPY sentiment



"The retreat from the 61.8% retracement of the 102.25/101.07 decline is accelerating after weak US industrial production data," comments Jamie Coleman from FXBeat. "Hopes for a solid Q2 rebound in GDP are beginning to fade."



Next support is at 101.60 before 101.50 and 101.40.



comments powered by Disqus
Related Forex Analysis
  1. NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal
    Forex News

    NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal

  2. GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals
    Forex News

    GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals

  3. EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation
    Forex News

    EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation

  4. USD/JPY recovered from Asian lows at 108.55, but still under pressure
    Forex News

    USD/JPY recovered from Asian lows at 108.55, but still under pressure

  5. AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low
    Forex News

    AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

Trading Center