USD/JPY Current price: 123.95
View Live Chart for the USD/JPY
Struggling around 124.00. The USD/JPY pair fell back below the 124.00 figure as the dollar came under selling pressure with the European opening. The pair fell down to 123.67 before bouncing back towards the 124.00 region on the back of US employment data, and the 1 hour chart shows that the price recovered above its 200 SMA, whilst the technical indicators head sharply higher and are crossing their mid-lines towards the upside. In the same chart, the 100 SMA provides a strong dynamic resistance around 124.10, with at least a candle opening above it required to confirm another leg higher. In the 4 hours chart, however, the technical indicators are heading slightly higher below their mid-lines, suggesting there's little buying interest at the time being and confirming the shorter term view.
Support levels: 123.65 123.30 122.90
Resistance levels: 124.10 124.45 124.90
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