USD/JPY falls below 123.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/JPY pushed lower and posted fresh daily lows at the beginning of the New York session as the greenback continued to weaken following not-so-hawkish minutes from the FOMC issued Wednesday.

    USD/JPY broke below the 123 mark and dropped to its lowest level since Monday at 122.82 before finding support. At time of writing, USD/JPY is trading at 122.90, recording a 0.57% daily loss following three consecutive gains earlier this week.

    USD/JPY levels to watch

    In terms of technical levels, next supports are seen at 122.20 (Nov 16 low) and 121.74 (100-day SMA). On the other hand, resistances could be found at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.46 (Aug 19 high).
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