8 Jun 2015
USD/JPY intensifies the decline below 124.50
FXStreet (Córdoba) - USD/JPY fell sharply during the American session and broke below the 124.50 support area, surrendering completely Friday’s gains.
USD/JPY managed to hold above the 125.00 area during the first half of the day, but then broke lower, triggered stops and accelerated losses toward a low 124.28 in recent dealings. At time of writing, the pair is trading at 124.40, recording a 0.90% loss on the day.
USD/JPY levels to watch
In terms of technical levels, next supports are seen at 124.28 (daily low), 124.00 (psychological level) and 123.77 (Jun 4 low). On the flip side, resistances could be found at 125.67 (daily high), 125.85 (13-year high Jun 5) and then the psychological level at 126.00.
USD/JPY managed to hold above the 125.00 area during the first half of the day, but then broke lower, triggered stops and accelerated losses toward a low 124.28 in recent dealings. At time of writing, the pair is trading at 124.40, recording a 0.90% loss on the day.
USD/JPY levels to watch
In terms of technical levels, next supports are seen at 124.28 (daily low), 124.00 (psychological level) and 123.77 (Jun 4 low). On the flip side, resistances could be found at 125.67 (daily high), 125.85 (13-year high Jun 5) and then the psychological level at 126.00.