USD/JPY retraces daily advance

By FXstreet.com | Updated August 14, 2014 AAA

FXStreet (Córdoba) - The USD/JPY has given up intraday gains and fallen to fresh daily lows as the dollar weakened across the board amid falling US yields.



The USD/JPY failed to break above 102.65 and came under pressure, sliding to a low of 102.31 in recent dealings as US Treasurys catch the bid tone seen in bunds, putting yields and the greenback under pressure.



USD/JPY technical levels



At time of writing, the pair is trading at 102.38, virtually unchanged since opening, with supports seen at 102.23 (Aug 13 low), 102.08/07 (Aug 12 low/100-day SMA) and 102.01/00 (Aug 11 low/psychological level). On the other hand, resistances are seen at 102.65 (Aug 14 high), 102.91 (Aug 5 high) and 103.00/01(psychological level/Aug 1 high).



You May Also Like

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