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27 Nov 2014
USD/JPY hovers around 117.50
FXStreet (Córdoba) - USD/JPY has continued to pullback from a 7-year high scored last week just below the 119 mark. Although at a slow pace, USD/JPY has printed lower highs and lower lows over the last days, having hit a 1-week low of 117.22 before steadying in a narrow range.
With US markets closed for the Thanksgiving day, liquidity is expected to remain low for the rest of the day and probably the week, with investors gearing up for next week’s events, including the nonfarm payrolls.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate supports at 117.22 (daly low), 117.00 (psychological level) and 116.80 (Nov 19 low). On the other hand, resistances are seen at 117.85 (100-hour SMA), 118.00 (psychological level) and 118.56 (Nov 25 high).
With US markets closed for the Thanksgiving day, liquidity is expected to remain low for the rest of the day and probably the week, with investors gearing up for next week’s events, including the nonfarm payrolls.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate supports at 117.22 (daly low), 117.00 (psychological level) and 116.80 (Nov 19 low). On the other hand, resistances are seen at 117.85 (100-hour SMA), 118.00 (psychological level) and 118.56 (Nov 25 high).