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23 Feb 2015
USD/JPY erases gains
FXStreet (Córdoba) - The USD/JPY pair retreated after hitting at 119.34 the strongest level since last Wednesday and erased daily gains. Currently trades at 119.00, around the same level it closed last week.
“The yen has remained at weaker levels in the Asian trading session undermined by the ongoing improvement in global investor risk sentiment”, Lee Hardman, Currency Analyst at BTMU. But recently the yen recovered ground not only against the US dollar but particularly against European currencies.
USD/JPY holds in last week range
Last week the pair moved sideways in a range with support at 118.20 and resistance below 119.40. Today greenback lost strength near 119.40 and pulled back. Before 118.20, support might lie at 118.80/90, where several short term moving averages currently stand.
“The yen has remained at weaker levels in the Asian trading session undermined by the ongoing improvement in global investor risk sentiment”, Lee Hardman, Currency Analyst at BTMU. But recently the yen recovered ground not only against the US dollar but particularly against European currencies.
USD/JPY holds in last week range
Last week the pair moved sideways in a range with support at 118.20 and resistance below 119.40. Today greenback lost strength near 119.40 and pulled back. Before 118.20, support might lie at 118.80/90, where several short term moving averages currently stand.