7 Jul 2015
USD/JPY in daily lows near 122.40
FXStreet (Edinburgh) - The Japanese yen keeps appreciating vs. its American counterpart on Tuesday, sending USD/JPY to test lows in the 122.40 area.
USD/JPY weaker on risk-aversion
Increasing uncertainties surrounding Greece ahead of today’s EU Leaders Summit keeps fuelling the risk-of trade in the global markets, dragging spot to challenge weekly lows at the same time.
Ahead in the session, trade balance figures are the most relevant publication in the US economy, with consensus expecting the trade deficit to have increased to $42.6 billion during June vs. $40.88 billion in the previous month.
USD/JPY relevant levels
At the moment the pair is retreating 0.14% at 122.40 and a breakdown of 121.86 (low Jul.6) would expose 121.73 (low May 26) and then 121.45 (low May 25). On the other hand, the immediate hurdle aligns at 122.90 (high Jul.7) followed by 123.46 (high Jul.1) and finally 123.73 (high Jul.2).
USD/JPY weaker on risk-aversion
Increasing uncertainties surrounding Greece ahead of today’s EU Leaders Summit keeps fuelling the risk-of trade in the global markets, dragging spot to challenge weekly lows at the same time.
Ahead in the session, trade balance figures are the most relevant publication in the US economy, with consensus expecting the trade deficit to have increased to $42.6 billion during June vs. $40.88 billion in the previous month.
USD/JPY relevant levels
At the moment the pair is retreating 0.14% at 122.40 and a breakdown of 121.86 (low Jul.6) would expose 121.73 (low May 26) and then 121.45 (low May 25). On the other hand, the immediate hurdle aligns at 122.90 (high Jul.7) followed by 123.46 (high Jul.1) and finally 123.73 (high Jul.2).