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4 Feb 2015
USD/JPY dips to lows near 117.40
FXStreet (Edinburgh) - The greenback is now losing the grip vs. its Japanese counterpart, dragging USD/JPY to test session lows around 117.40.
USD/JPY keeps the range
The divergent paths between the US dollar and US yields keeps weighing on the pair, accentuating the recent consolidation scheme, although significant options strikes at 117.45 and 118.00 could exert some pressure ahead in the session.
Data wise, Services PMI in Japan ticked lower to 51.3 in January whereas the US ISM Non-manufacturing is expected to improve a tad during the same period, from 56.2 to 56.3. Further releases in the US docket will be in the spotlight, with the ADP Employment Report and the Services PMI gauged by Markit.
USD/JPY important levels
As of writing the pair is now losing 0.10% at 117.38 and a breach of 117.00 (psychological level) would expose 116.87 (low Feb.3) and then 116.64 (low Feb.2). On the upside, the initial barrier aligns at 118.00 (high Feb.4) followed by 118.30 (Kijun Sen) and finally 118.47 (high Jan.30).
USD/JPY keeps the range
The divergent paths between the US dollar and US yields keeps weighing on the pair, accentuating the recent consolidation scheme, although significant options strikes at 117.45 and 118.00 could exert some pressure ahead in the session.
Data wise, Services PMI in Japan ticked lower to 51.3 in January whereas the US ISM Non-manufacturing is expected to improve a tad during the same period, from 56.2 to 56.3. Further releases in the US docket will be in the spotlight, with the ADP Employment Report and the Services PMI gauged by Markit.
USD/JPY important levels
As of writing the pair is now losing 0.10% at 117.38 and a breach of 117.00 (psychological level) would expose 116.87 (low Feb.3) and then 116.64 (low Feb.2). On the upside, the initial barrier aligns at 118.00 (high Feb.4) followed by 118.30 (Kijun Sen) and finally 118.47 (high Jan.30).