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23 Feb 2015
USD/JPY consolidates below 119.00
FXStreet (Edinburgh) - The greenback remains stuck within a narrow range below the 119.00 handle vs. the Japanese currency on Monday, with USD/JPY gyrating around 118.90/80.
USD/JPY lower on US data
The pair lost some upside momentum after hitting the 119.40 area overnight, following some dissenting voices from the board of the BoJ, according to today’s minutes. Next of note in japan will be the results from the Foreign Bond Investment in the week ended of February 20th.
The poor performance of the US treasuries is also collaborating with the USD softness. In addition, US Existing Home Sales contracted 4.9% inter-month in January, down to 4.82 million vs. 4.97 million expected and December’s 5.07 million, and the regional gauge of the manufacturing sector tracked by the Dallas Fed also came in lower at -11.2 for the current month vs. -4.4 previous.
USD/JPY levels to watch
At the moment the pair is losing 0.17% at 118.86 and a breach of 118.56 (Kijun Sen) would open the door to 118.30 (low Feb.20) and then 118.11 (low Feb.16). On the upside, the initial resistance aligns at 119.42 (high Feb.17) followed by 120.48 (high Feb.11) and finally 120.68 (high Jan.5).
USD/JPY lower on US data
The pair lost some upside momentum after hitting the 119.40 area overnight, following some dissenting voices from the board of the BoJ, according to today’s minutes. Next of note in japan will be the results from the Foreign Bond Investment in the week ended of February 20th.
The poor performance of the US treasuries is also collaborating with the USD softness. In addition, US Existing Home Sales contracted 4.9% inter-month in January, down to 4.82 million vs. 4.97 million expected and December’s 5.07 million, and the regional gauge of the manufacturing sector tracked by the Dallas Fed also came in lower at -11.2 for the current month vs. -4.4 previous.
USD/JPY levels to watch
At the moment the pair is losing 0.17% at 118.86 and a breach of 118.56 (Kijun Sen) would open the door to 118.30 (low Feb.20) and then 118.11 (low Feb.16). On the upside, the initial resistance aligns at 119.42 (high Feb.17) followed by 120.48 (high Feb.11) and finally 120.68 (high Jan.5).