USD/JPY erases daily gains

FXstreet.com (Córdoba) - The USD/JPY has continued to surrender gains during the New York session and is approaching daily lows, weighed by falling stocks.

USD/JPY failed to consolidate above the 98.00 mark and turned lower, erasing completely its intraday gains to trade nearly flat at the 97.55/60 zone.

USD/JPY levels to watch

If USD/JPY extends its path south, immediate supports could be found at 97.35 (daily low), 97.25 (200-hour SMA) and 97.00 (psychological level). On the upside, resistances are seen at 98.00 (psychological level), 98.12 (daily high) and 98.42 (Aug 14 high).