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15 Apr 2015
USD/JPY eyes 100-DMA
FXStreet (Mumbai) - The US dollar trims gains versus the yen heading in to the European opening bells, with USD/JPY recovery stalled to 20-DMA as the US dollar surrendered previous gains and trades subdued following yesterday’s below estimates US data backed losses.
USD/JPY holds above 119.50
Currently, the USD/JPY pair trades higher by 0.18% at 119.59 levels, slipping to fresh session lows at 119.54. The USD/JPY pair continues to trade in a slim range with the downside cushioned by key support at 119.50 as Bank of Japan’s (BOJ) Kuroda’s comments had no impact on the yen. BOJ Kuroda continues to repeat that Japan’s economy is moderately improving and that inflation trend is improving.
Moreover, the pair edged lower after the US dollar paused its rebound and fell back in red against its major competitors as the tepid US data continues to weigh on the market sentiments. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies erased previous gains and trades muted at 98.98.
Meanwhile, Industrial production and Housing market data from the US are due for release later today which may provide more clues on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.72 (20-DMA) levels and above which it could extend gains 119.95 (50-DMA) levels. To the downside immediate support might be located at 119.35 (100-DMA) below that at 119 levels.
USD/JPY holds above 119.50
Currently, the USD/JPY pair trades higher by 0.18% at 119.59 levels, slipping to fresh session lows at 119.54. The USD/JPY pair continues to trade in a slim range with the downside cushioned by key support at 119.50 as Bank of Japan’s (BOJ) Kuroda’s comments had no impact on the yen. BOJ Kuroda continues to repeat that Japan’s economy is moderately improving and that inflation trend is improving.
Moreover, the pair edged lower after the US dollar paused its rebound and fell back in red against its major competitors as the tepid US data continues to weigh on the market sentiments. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies erased previous gains and trades muted at 98.98.
Meanwhile, Industrial production and Housing market data from the US are due for release later today which may provide more clues on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.72 (20-DMA) levels and above which it could extend gains 119.95 (50-DMA) levels. To the downside immediate support might be located at 119.35 (100-DMA) below that at 119 levels.