USD/JPY Current price: 119.84
View Live Chart for the USD/JPY
The USD/JPY pair came under selling pressure as the EUR/JPY sells off following the ECB dovish stance, breaking below the 120.00 level early in the US session. The USD/JPY has failed to hold beyond the 120.35 on a short term advance beyond it during Asian hours, and the 1 hour chart shows that the price is now accelerating below its 200 SMA, whilst the technical indicators head sharply lower below their mid-lines, anticipating a continued decline towards 119.40, the 38.2% retracement of the latest 2 weeks decline. In the 4 hours chart the technical picture is also bearish, although the decline can be limited on rising stocks and ahead of tomorrow US employment data.
Support levels: 119.40 118.90 118.50
Resistance levels: 120.00 120.35 120.60
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