28 Apr 2015
USD/JPY hits fresh lows below 119.00 after US data
FXStreet (Córdoba) - USD/JPY fell back below 119.00 after the release of consumer confidence data from the US and printed a fresh daily low at 118.77. The pair then bounced modestly and it was trading at 118.90, 10 pips below yesterday's closing price.
The consumer confidence index made by the Conference Board fell from 101.3 to 95.2 in April. Analysts were expecting a modest decline to 101.3. Greenback extended losses across the board after the report while the yen despite rising versus the US dollar, is also losing ground in the market, trading at weekly lows.
USD/JPY technical levels
To the downside, the immense support lies at 118.75/80 ( April 26, 28 low), followed by 118.50 and 118.30. On the opposite direction resistance could be located at 119.05, 119.20 (daily high) and 119.40/45.
The consumer confidence index made by the Conference Board fell from 101.3 to 95.2 in April. Analysts were expecting a modest decline to 101.3. Greenback extended losses across the board after the report while the yen despite rising versus the US dollar, is also losing ground in the market, trading at weekly lows.
USD/JPY technical levels
To the downside, the immense support lies at 118.75/80 ( April 26, 28 low), followed by 118.50 and 118.30. On the opposite direction resistance could be located at 119.05, 119.20 (daily high) and 119.40/45.