USD/JPY hits fresh lows below 113.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    USD/JPY broke below 113.60 (European session low) and dropped to 113.46 hitting a fresh daily low. The pair is trading around 113.55, down 50 pips from yesterday’s closing price.

    The Japanese currency is among the top performers on Thursday supported by a decline in stocks and by a rally in US bonds. The Dow Jones started the day in positive territory but failed to hold to gains and it was falling 0.20%.

    USD/JPY levels to watch

    So far, the price remained above 113.35 where Wednesday’s lows are located; a break below and a consolidation would expose 113.00; the next support could be seen at 112.65/70 (intraday level) and 110.98 (Feb 11 low).

    On the opposite direction, immediate resistance levels are seen at 113.70 and then 113.90 (20-hour moving average): a consolidation above 113.90 could give momentum to the US dollar for an extension to test yesterday’s highs located at 114.50.
    For more information, read our latest forex news.

Share This Page

free forex signals