USD/JPY tests 104.00 but rejected again

By FXstreet.com | Updated August 26, 2014 AAA

FXStreet (San Francisco) - The US dollar jumped to test the 104.00 level against the Japanese Yen but the pair got a new rejection and now it is trading back to 103.85.



Pair was affected by US durable goods orders that rose 22.6% in July; However the data was distorted by large orders in airplanes. Ex-transportation fell 0.8%.



Currently, USD/JPY is trading at 103.92, down 0.13% on the day, having posted a daily high at 104.13 and low at 103.75. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish.



USD/JPY levels



There are option expiries at New York's cut around 103.00 ($430 mln) and 103.25 ($200 mln). If the pair managers to break above 104.00, next resistances are at 104.10, 104.25 and 104.45.



On the downside, supports are at 103.75, 103.50 and 103.40.



comments powered by Disqus
Related Forex Analysis
  1. BoJ to retain a positive outlook for growth, inflation - RBS
    Forex News

    BoJ to retain a positive outlook for growth, inflation - RBS

  2. Session Recap: Artificial growth does not feed the USD
    Forex News

    Session Recap: Artificial growth does not feed the USD

  3. USDJPY Presses Resistance Ahead of BoJ- Support at 108.87
    Forex News

    USDJPY Presses Resistance Ahead of BoJ- Support at 108.87

  4. USD/JPY challenges tops near 109.40
    Forex News

    USD/JPY challenges tops near 109.40

  5. USD/JPY Back at 13 Year Trendline
    Forex News

    USD/JPY Back at 13 Year Trendline

Trading Center