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6 Jan 2015
USD/JPY recovers from below 119.00
FXStreet (Córdoba) - USD/JPY found support and bounced from below 119.00 ahead of the Wall Street opening, taking back some of its recent losses.
USD/JPY extended the selloff during the European session and bottomed out at a 3-week low of 118.64 but managed to climb back above 119.00 and reached the 119.40 zone. At time of writing, the pair is trading at 119.30, still 0.27% below its opening price.
Data-wise, US Markit and ISM services PMIs for December are due later during the New York session, with the latter expected to drop to 58.2 from 59.3 in November.
USD/JPY levels to watch
As for technical levels, next USD/JPY supports could be found at 118.64 (daily low) and 118.25 (Dec 18 low). On the flip side, resistances are seen at 119.62 (daily high), 120.00 (psychological level) and 120.63 (Jan 5 high).
USD/JPY extended the selloff during the European session and bottomed out at a 3-week low of 118.64 but managed to climb back above 119.00 and reached the 119.40 zone. At time of writing, the pair is trading at 119.30, still 0.27% below its opening price.
Data-wise, US Markit and ISM services PMIs for December are due later during the New York session, with the latter expected to drop to 58.2 from 59.3 in November.
USD/JPY levels to watch
As for technical levels, next USD/JPY supports could be found at 118.64 (daily low) and 118.25 (Dec 18 low). On the flip side, resistances are seen at 119.62 (daily high), 120.00 (psychological level) and 120.63 (Jan 5 high).