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USD/JPY back to square one, Yellen repeats herself

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/JPY continues to waver within its daily range amid another series of US data and Yellen comments echoing yesterday’s words that the lift-off delay could risk abrupt tightening later.

    USD/JPY has enjoyed a volatile ride amid ECB decision and US dollar weakness, but overall it has traded within its weekly range. Having been rejected from a high of 123.66 on Wednesday and contained by the 200-hour SMA at 122.85, USD/JPY is currently trading at 123.20, virtually unchanged on the day.

    USD/JPY levels to watch

    In terms of technical levels, next resistances are seen at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.45 (Aug 19 high). On the other hand, supports could be faced at 122.85 (200-hour SMA), 122.67/63 (Nov 30, Dec 1 lows), 122.20 (Nov 16 low) and then 121.75 (100-day SMA).
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