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7 Jan 2014
USD/JPY fails to sustain gains
FXstreet.com (Córdoba) - The USD/JPY failed hold at highs and gave up gains during the American afternoon after reaching a peak of 104.76 in the back of US trade data.
The USD/JPY trimmed most of its daily advance and fell all the way back to 104.30 zone before finding support. At time of writing, the USD/JPY is trading around 104.40, recording a 0.2% gain on the day, following a 3-day losing streak.
USD/JPY technical levels
On the upside, if the USD/JPY manages to break above 104.76 (daily high), next resistances could be found at the 104.94/105.00 area (Jan 6 high/psychological level) and 105.44 (Jan 2 high). On the flip side, supports are seen at 104.15 (daily low), 104.00 (20-day SMA/psychological level) and 103.90 (Jan 6 low).
The USD/JPY trimmed most of its daily advance and fell all the way back to 104.30 zone before finding support. At time of writing, the USD/JPY is trading around 104.40, recording a 0.2% gain on the day, following a 3-day losing streak.
USD/JPY technical levels
On the upside, if the USD/JPY manages to break above 104.76 (daily high), next resistances could be found at the 104.94/105.00 area (Jan 6 high/psychological level) and 105.44 (Jan 2 high). On the flip side, supports are seen at 104.15 (daily low), 104.00 (20-day SMA/psychological level) and 103.90 (Jan 6 low).