8 Jun 2015
USD/JPY breaks below 125.00
FXStreet (Edinburgh) - The greenback continues to lose ground on Monday, now sending USD/JPY below the 125.00 key support.
USD/JPY corrects from 125.80
After Friday’s fresh cycle highs near 125.80, the pair sparked a correction lower following a renewed softer tone in the US dollar, along with market participants digesting May’s Payrolls (280K) and cashing up recent USD strong gains.
Not an interesting docket in Japan this week, with Industrial Production figures and the critical tertiary Industry Index due on Friday. On the US side, Retail Sales are due on Thursday ahead of the flash gauge of the Reuters/Michigan index for the month of June.
USD/JPY levels to watch
The pair is now losing 0.59% at 124.87 facing the next support at 124.36 (low Jun.5) ahead of 124/32 (Tenkan Sen) and then 123.78 (low Jun.4). On the flip side, a breakout of 125.68 (high Jun.8) would open the door to 125.86 (2015 high Jun.5) and then the psychological level at 126.00.
USD/JPY corrects from 125.80
After Friday’s fresh cycle highs near 125.80, the pair sparked a correction lower following a renewed softer tone in the US dollar, along with market participants digesting May’s Payrolls (280K) and cashing up recent USD strong gains.
Not an interesting docket in Japan this week, with Industrial Production figures and the critical tertiary Industry Index due on Friday. On the US side, Retail Sales are due on Thursday ahead of the flash gauge of the Reuters/Michigan index for the month of June.
USD/JPY levels to watch
The pair is now losing 0.59% at 124.87 facing the next support at 124.36 (low Jun.5) ahead of 124/32 (Tenkan Sen) and then 123.78 (low Jun.4). On the flip side, a breakout of 125.68 (high Jun.8) would open the door to 125.86 (2015 high Jun.5) and then the psychological level at 126.00.