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6 Jan 2014
USD/JPY falls below 104.00
FXstreet.com (Córdoba) - The USD/JPY turned back south during the American afternoon retracing completely its intraday bounce to hit a fresh daily low.
The USD/JPY came under pressure following disappointing US ISM services data and moved lower in tandem with US yields and stocks, having dropped more than 90 pips throughout the last hours, breaking below the 104.00 mark. The pair is currently trading at the 103.95, recording a 0.2% loss on the day, having hit a 2-week low of 103.90 in recent dealings.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could face immediate supports at 103.90 (daily low), 103.76 (Dec 23 low) and 103.43 (Dec 12 high). On the other hand, resistances are seen at 104.94 (daily high), 105.00 (psychological level) and 105.44 (Jan 2 high).
The USD/JPY came under pressure following disappointing US ISM services data and moved lower in tandem with US yields and stocks, having dropped more than 90 pips throughout the last hours, breaking below the 104.00 mark. The pair is currently trading at the 103.95, recording a 0.2% loss on the day, having hit a 2-week low of 103.90 in recent dealings.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could face immediate supports at 103.90 (daily low), 103.76 (Dec 23 low) and 103.43 (Dec 12 high). On the other hand, resistances are seen at 104.94 (daily high), 105.00 (psychological level) and 105.44 (Jan 2 high).