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USD/JPY breaches 120.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/JPY has continued to trend lower during the American session, falling below the 120.00 level for first time since the BoJ decided to set negative interest rates last week.

    USD/JPY broke below the 120 mark and stretched to a low of 119.83 as stocks remain near session lows just ahead of the Wall Street close. At time of writing, USD/JPY is trading at 119.95, down 0.84% on the day.

    USD/JPY technical levels

    As for technical levels, next supports are seen at 118.95 (10-day SMA), 118.47 (Jan 29 low) and 118.03/00 (Jan 27 low/psychological level). On the other hand, immediate resistances could be faced at 120.60 (100-day SMA), 121.03 (Feb 2 high) and 121.47 (200-day SMA).
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