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USD/JPY hovering around 119.40

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/JPY continues to trade around Friday’s closing price in a small trading range. The pair reached daily extremes during the Asian session when it bottomed at 119.11 and then peaked at 119.62.

    Currently it trades at 119.40, marginally below last week close. The yen and the US dollar are posting mix results on Monday across the board on a low volume session.

    In Wall Street, stocks area falling modestly. The Dow Jones is down 0.14% and the Nasdaq declines 0.18%. US government bond are rising, but the 10-year yield remains above 2.0%.

    USD/JPY technical levels

    To the upside, immediate resistance could be located at 119.60/65 (daily high), 119.90 and 120.10 (Oct 13 high). On the downside, support might lie at 119.20, 118.90 and 118.60/65 (Oct 14 low).
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