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26 Apr 2016
USD/JPY turns positive for the day
USD/JPY turned positive during the American session as the greenback managed to stage a bounce across the board over the last hours.
With US durable goods orders, consumer confidence and services PMI data coming below expectations, the dollar faced selling pressure at the beginning of the session but managed to trim losses against European currencies and even post modest gains versus the yen.
USD/JPY reached a high of 111.44 in recent dealings, but overall trading remains quiet ahead of the Fed and BoJ policy decisions due later this week. At time of writing, the pair is trading at 111.42, up 0.22% on Tuesday.
USD/JPY technical levels
In terms of technical levels, next resistances could be found at 111.77/87 (50-day SMA/Apr 25 high), 112.57 (apr 1 high) and 113.79 (Mar 29 high). On the downside, short-term supports are seen at 110.65 (Apr 25 low), 109.98 (20-day SMA) and 109.25 (Apr 22 low).
With US durable goods orders, consumer confidence and services PMI data coming below expectations, the dollar faced selling pressure at the beginning of the session but managed to trim losses against European currencies and even post modest gains versus the yen.
USD/JPY reached a high of 111.44 in recent dealings, but overall trading remains quiet ahead of the Fed and BoJ policy decisions due later this week. At time of writing, the pair is trading at 111.42, up 0.22% on Tuesday.
USD/JPY technical levels
In terms of technical levels, next resistances could be found at 111.77/87 (50-day SMA/Apr 25 high), 112.57 (apr 1 high) and 113.79 (Mar 29 high). On the downside, short-term supports are seen at 110.65 (Apr 25 low), 109.98 (20-day SMA) and 109.25 (Apr 22 low).