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USD/JPY revisits lows as dollar underperforms

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USD/JPY fell to retest daily lows as the greenback came under pressure at the beginning of the American session while stocks started lower in Wall Street.

    USD/JPY turned lower as the dollar reversed its early gains and pulled back from the 111.70 area, with the pair returning to the 111.30 zone. At time of writing, USD/JPY is trading at 111.35, down 0.22% on the day. Later in the session, US docket includes labor market conditions index and factory orders.

    USD/JPY technical levels

    In terms of technical levels, next supports are seen at 111.21 (Mar 21 low), 110.80 (Mar 18 low) and 110.65 (Mar 17 low). On the other hand, resistances could be found at 111.78 (Apr 4 high), 112.47 (10-day SMA) and 112.78 (Mar 30 high).
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