USD/JPY Current price: 120.07
View Live Chart for the USD/JPY
Stuck around 120.00. The USD/JPY pair consolidated around the 120.00 level for most of the first half of the day, bullish in the day, but contained by the 50% retracement of the last two-weeks decline at 120.35. The pair has hardly reacted to the news, and seems limited to the upside in the short term, as the 1 hour chart shows that the price stands below its moving averages, whilst the technical indicators are losing upward strength, and turning slightly lower right above their mid-lines. In the 4 hours chart, the technical indicators have recovered from oversold levels, but have turned lower below their mid-lines, supporting the shorter term outlook, as long as the price remains below the mentioned 120.35 level.
Support levels: 119.80 119.35 118.90
Resistance levels: 120.35 120.60 121.00
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