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26 Feb 2015
USD/JPY trades around a flatline below 119.00
FXStreet (Mumbai) - USD/JPY steadies below 119 handle, extending its choppy trend ahead of Europe open, after Bank of Japan (BOJ) Governor Kuroda comments hit the wires.
USD/JPY stuck below 119
Currently, the USD/JPY trades modestly flat at 118.96 levels, having previous posted day’s low at 118.82 and day’s high at 119.09. The pair trades muted, failing several attempts to break above 119 levels as traders search for fresh incentives from the European session. Also, USD/JPY remained little affected by BOJ Kuroda’s comments that crossed the wires some minutes ago, stating that there is no set ceiling for BOJ easing.
Moreover, further falls in the US bond yields on Wednesday, as the 10-year yield extended losses to 1.957 levels, after Yellen’s testimony was widely interpreted as an indication that a rate hike would likely come later rather than sooner.
Meanwhile, traders now await a deluge of US macro data later in the day for further cues on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.10 levels and above which it could extend gains 119.19 (Feb 19 High) levels. To the downside immediate support might be located at 118.52 (50-DMA) levels, below that at 118.23 levels.
USD/JPY stuck below 119
Currently, the USD/JPY trades modestly flat at 118.96 levels, having previous posted day’s low at 118.82 and day’s high at 119.09. The pair trades muted, failing several attempts to break above 119 levels as traders search for fresh incentives from the European session. Also, USD/JPY remained little affected by BOJ Kuroda’s comments that crossed the wires some minutes ago, stating that there is no set ceiling for BOJ easing.
Moreover, further falls in the US bond yields on Wednesday, as the 10-year yield extended losses to 1.957 levels, after Yellen’s testimony was widely interpreted as an indication that a rate hike would likely come later rather than sooner.
Meanwhile, traders now await a deluge of US macro data later in the day for further cues on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.10 levels and above which it could extend gains 119.19 (Feb 19 High) levels. To the downside immediate support might be located at 118.52 (50-DMA) levels, below that at 118.23 levels.