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).



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