22 Jan 2015
USD/JPY falls back below 118.00
FXStreet (Córdoba) - USD/JPY has pulled back from daily highs and trades back below the 118 mark as investors remain cautious heading into the ECB monetary policy meeting.
USD/JPY climbed to a daily high of 118.32, supported by higher US yields, but failed to sustain gains and dropped back below 118.00 during the European session. The pair fell to a low of 117.58 before finding support. At time of writing, USD/JPY is trading at 117.70, 0.20% below its opening price.
USD/JPY still kept distance from yesterday’s low at 117.17, scored on the back of BoJ decision to leave monetary policy unchanged. Now markets’ attention is being absorbed by the upcoming ECB decision amid speculation it will join other central banks in launching QE.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find next supports at 117.58 (daily low), 117.17 (Jan 21 low) and 117.00 (psychological level). On the other hand, resistances are seen at 118.32 (daily high), 118.85 (Jan 21 high) and 119.00 (psychological level).
USD/JPY climbed to a daily high of 118.32, supported by higher US yields, but failed to sustain gains and dropped back below 118.00 during the European session. The pair fell to a low of 117.58 before finding support. At time of writing, USD/JPY is trading at 117.70, 0.20% below its opening price.
USD/JPY still kept distance from yesterday’s low at 117.17, scored on the back of BoJ decision to leave monetary policy unchanged. Now markets’ attention is being absorbed by the upcoming ECB decision amid speculation it will join other central banks in launching QE.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find next supports at 117.58 (daily low), 117.17 (Jan 21 low) and 117.00 (psychological level). On the other hand, resistances are seen at 118.32 (daily high), 118.85 (Jan 21 high) and 119.00 (psychological level).