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14 May 2015
USD/JPY: A mixed technical outlook
FXStreet (Guatemala) - USD/JPY is currently trading at 119.15 with a high of 119.25 and a low of 119.10.
USD/JPY has moved back on to the 119 handle while the greenback is in supply. The data from the US has been disappointing yet again over night, this time with retail sales that were a miss and underpinning a poor outlook for Q2.
Technically, the outlook remains mixed from here, with moves to key levels setting traders nerves off, only to be disappointed with a resumption in the opposite direction in the familiar ranges.
We have the same 120.82/84 resistance in the main on the 120 handle being the December 2014 and the April high. Bulls will look for a test of the 14 year downtrend at 122.07 through there. Through 119.65, to the downside, 118.80 and 118.40 come in as next key supports.
USD/JPY has moved back on to the 119 handle while the greenback is in supply. The data from the US has been disappointing yet again over night, this time with retail sales that were a miss and underpinning a poor outlook for Q2.
Technically, the outlook remains mixed from here, with moves to key levels setting traders nerves off, only to be disappointed with a resumption in the opposite direction in the familiar ranges.
We have the same 120.82/84 resistance in the main on the 120 handle being the December 2014 and the April high. Bulls will look for a test of the 14 year downtrend at 122.07 through there. Through 119.65, to the downside, 118.80 and 118.40 come in as next key supports.