USD/JPY settles below 104.00

By FXstreet.com | August 26, 2014 AAA

FXStreet (Córdoba) - The USD/JPY surrendered the 104.00 level and settled in a slim range just below where it has spent the last hours.



The USD/JPY failed to sustain gains above 104.00 and retreated to a low of 103.74 before the pullback was contained and was confined to a phase of consolidation. At time of writing, the pair is trading at 103.88, 0.15% below its opening price.



Today focus will be on US data releases, with the durable goods orders and consumer confidence on tap.



USD/JPY levels to watch



As for technical levels, the USD/JPY could find immediate supports at 103.88 (Aug 26 low), 103.50 (Aug 22 low) and 103.08 (Jul 30 high). On the other hand, resistances are seen at 104.11 (Aug 26 high), 104.27 (Aug 25 high) and 104.84 (Jan 23 high).



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