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27 Jul 2015
USD/JPY holds above 123.00 but still under pressure
FXStreet (Córdoba) - USD/JPY dropped further after the release of the US durable goods order report and bottomed following Wall Street opening bell at 123.00, hitting the lowest level since July 14.
USD/JPY unable to recover
From the 123.00 area greenback attempted to recover but so far, the rebound has been limited and the pair found resistance at 123.20. Currently it trades at 123.10, down 70 pips from Friday’s closing price.
The pair continues to hold a bearish tone in the short-term and is falling for the fourth time out of the last five trading days amid a weak US dollar.
The yen is among the top performers on Monday, supported by risk aversion. In Europe, mains stock indexes are falling around 1.50% while in Wall Street, the Dow Jones was down 0.54% and the Nasdaq was falling 0.50%.
USD/JPY unable to recover
From the 123.00 area greenback attempted to recover but so far, the rebound has been limited and the pair found resistance at 123.20. Currently it trades at 123.10, down 70 pips from Friday’s closing price.
The pair continues to hold a bearish tone in the short-term and is falling for the fourth time out of the last five trading days amid a weak US dollar.
The yen is among the top performers on Monday, supported by risk aversion. In Europe, mains stock indexes are falling around 1.50% while in Wall Street, the Dow Jones was down 0.54% and the Nasdaq was falling 0.50%.