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11 Dec 2014
USD/JPY recovery falters ahead of 119.00
FXStreet (Córdoba) - USD/JPY is taking a breather, having bounced off a 2-week low of 117.43 scored during the Asian session, after 3 days of falls as investors took profit on recent gains.
The greenback is rising across the board Thursday with USD/JPY having climbed nearly 150 pips to hit a daily high of 118.87 before stalling at the 50-hour SMA. At time of writing, USD/JPY is trading at 118.65, recording a 0.72% gain on the day.
However, the dollar has lost nearly 3% against the yen over the last days after being rejected from a 7-year high of 121.83.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at 118.87 (daily high/50-hour SMA), 119.00 (psychological level) and 119.92 (Dec 10 high). On the flip side, supports are seen at 117.43 (daily low), 117.00 (psychological level) and 116.80 (Nov 19 low).
The greenback is rising across the board Thursday with USD/JPY having climbed nearly 150 pips to hit a daily high of 118.87 before stalling at the 50-hour SMA. At time of writing, USD/JPY is trading at 118.65, recording a 0.72% gain on the day.
However, the dollar has lost nearly 3% against the yen over the last days after being rejected from a 7-year high of 121.83.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at 118.87 (daily high/50-hour SMA), 119.00 (psychological level) and 119.92 (Dec 10 high). On the flip side, supports are seen at 117.43 (daily low), 117.00 (psychological level) and 116.80 (Nov 19 low).