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16 Oct 2014
USD/JPY next major support is 105.00
FXStreet (Barcelona) - USD/JPY is trading at 106.02, up 0.11% on the day, having posted a daily high at 106.35 and low at 105.51.
USD/JPY is settled in the vicinity of the 106 handle again having been as low as 105.50 previously. The pair has been on the offer in the main but there is continued interest within the aforementioned vicinity. The decline in US yields this week has narrowed the spread between Japan and the US and of course this is a contributing factor and a continuation of lower US yields is going to weigh on the pair while Japanese importers and corporate investors are going to do their best to protect against deeper declines in USD/JPY while hoping for better US recovery. 105.00 is a historical level that may well be strong support on further declines in the mean time.
USD/JPY noteworthy levels
Current price is 106.04, with resistance ahead at 106.21 (Daily Classic PP), 106.35 (Daily High), 106.83 (Weekly Classic S1), 106.90 (Hourly 100 SMA) and 107.22 (Daily Classic R1). Next support to the downside can be found at 106.01 (Weekly Classic S2), 105.80 and 105.50 ahead of key 105.00.
USD/JPY is settled in the vicinity of the 106 handle again having been as low as 105.50 previously. The pair has been on the offer in the main but there is continued interest within the aforementioned vicinity. The decline in US yields this week has narrowed the spread between Japan and the US and of course this is a contributing factor and a continuation of lower US yields is going to weigh on the pair while Japanese importers and corporate investors are going to do their best to protect against deeper declines in USD/JPY while hoping for better US recovery. 105.00 is a historical level that may well be strong support on further declines in the mean time.
USD/JPY noteworthy levels
Current price is 106.04, with resistance ahead at 106.21 (Daily Classic PP), 106.35 (Daily High), 106.83 (Weekly Classic S1), 106.90 (Hourly 100 SMA) and 107.22 (Daily Classic R1). Next support to the downside can be found at 106.01 (Weekly Classic S2), 105.80 and 105.50 ahead of key 105.00.