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20 Aug 2015
USD/JPY falls to 123.50, fresh monthly low
FXStreet (Córdoba) - USD/JPY weakened after Wall Street opening bell and turned again to the downside after being unable to hold above 124.00. The pair dropped below 123.75 and accelerated to the downside. It bottomed at 123.50, hitting the lowest level since July 31.
A weak US dollar pushed the pair to the downside. The yen also was favored by a negative opening for stocks in the US and falling US government bond yields. The Dow Jones is falling 1.21% and the Nasdaq drops 1.73%. In Europe, the FTSE 100 is losing 0.52% and the DAX is down more than 2%. Risk aversion usually benefits the yen that is rising in the market, but is not the best performer.
USD/JPY decline continues
The pair remains near the lows amid a weak US dolla the market. Currently it trades at 123.50/55, almost 40 pips below the level it closed yesterday. USD/JPY is headed towerd the third daily decline in a row and the lowest close since July 27.
Today price is making an important break to the downside, after moving sideways during a week around 124.00 and 124.60. The technical outlook now could point toward more slides. Below 123.50, the next relevant support is located around 123.00 (July 27 low).
A weak US dollar pushed the pair to the downside. The yen also was favored by a negative opening for stocks in the US and falling US government bond yields. The Dow Jones is falling 1.21% and the Nasdaq drops 1.73%. In Europe, the FTSE 100 is losing 0.52% and the DAX is down more than 2%. Risk aversion usually benefits the yen that is rising in the market, but is not the best performer.
USD/JPY decline continues
The pair remains near the lows amid a weak US dolla the market. Currently it trades at 123.50/55, almost 40 pips below the level it closed yesterday. USD/JPY is headed towerd the third daily decline in a row and the lowest close since July 27.
Today price is making an important break to the downside, after moving sideways during a week around 124.00 and 124.60. The technical outlook now could point toward more slides. Below 123.50, the next relevant support is located around 123.00 (July 27 low).