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17 Dec 2013
USD/JPY breaks to weekly lows
FXstreet.com (Córdoba) - The USD/JPY broke its weekly range to the downside and hit fresh lows during the American session as the USD recedes.
The USD/JPY fell through the 102.85/65 support zone and stretched to a low of 102.53 as wariness increases as the Fed decision looms. At time of writing, the USD/JPY is trading at the 102.60 zone, recording a 0.4% loss on the day and its third consecutive drop since peaking at 103.92 last Friday.
USD/JPY technical levels
In terms of technical levels, immediate supports line up at 102.27 (20-day SMA) and 102.18 (Dec 11 low) ahead of 102.00 (psychological level. On the flip side, resistances are seen at 103.10 (daily high) and 103.28 (Dec 16 high) ahead of 103.92 (5-year high Dec 13).
The USD/JPY fell through the 102.85/65 support zone and stretched to a low of 102.53 as wariness increases as the Fed decision looms. At time of writing, the USD/JPY is trading at the 102.60 zone, recording a 0.4% loss on the day and its third consecutive drop since peaking at 103.92 last Friday.
USD/JPY technical levels
In terms of technical levels, immediate supports line up at 102.27 (20-day SMA) and 102.18 (Dec 11 low) ahead of 102.00 (psychological level. On the flip side, resistances are seen at 103.10 (daily high) and 103.28 (Dec 16 high) ahead of 103.92 (5-year high Dec 13).