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18 Mar 2015
USD/JPY drops toward 121.00
FXStreet (Córdoba) - The USD/JPY broke below 121.25 and weakened, falling toward 121.00. Recently printed a fresh daily low at 121.14 as the US dollar retreats across the board.
Currently trades at the lows of the day, near a key short term support level located around the 121.10 area, that capped the downside during the last three trading days. Most European markets were lower while Wall Street futures pointed to a negative opening; US bond yields were falling. The Japanese currency was rising against the US dollar but it was posting mix results in the market, ahead of the FOMC statement.
USD/JPY continues sideways
Since last week the pair has been moving sideways in a small range with support above 121.00 and resistance around 121.50. The Federal Reserve could trigger volatility and pushed USD/JPY to break the range.
Currently trades at the lows of the day, near a key short term support level located around the 121.10 area, that capped the downside during the last three trading days. Most European markets were lower while Wall Street futures pointed to a negative opening; US bond yields were falling. The Japanese currency was rising against the US dollar but it was posting mix results in the market, ahead of the FOMC statement.
USD/JPY continues sideways
Since last week the pair has been moving sideways in a small range with support above 121.00 and resistance around 121.50. The Federal Reserve could trigger volatility and pushed USD/JPY to break the range.