27 Dec 2013
USD/JPY consolidates below 105.00
FXstreet.com (Córdoba) - The USD/JPY entered a phase of consolidation just below the 105.00 mark after reaching a fresh 5-year peak of 105.02 during the Asian session.
The USD/JPY found resistance at the 105.00 area and pulled back, but with the subsequent dip being contained by the 104.65 area, it bounced back to the upper side of today's range. At time of writing, the USD/JPY is trading at the 104.90 zone, still 0.1% above its opening price.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 105.02 (5-year high) and 105.50 (Oct 6 2008 high). On the downside, supports could be found at 104.64 (daily low), 104.25 (Dec 24 close), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).
The USD/JPY found resistance at the 105.00 area and pulled back, but with the subsequent dip being contained by the 104.65 area, it bounced back to the upper side of today's range. At time of writing, the USD/JPY is trading at the 104.90 zone, still 0.1% above its opening price.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 105.02 (5-year high) and 105.50 (Oct 6 2008 high). On the downside, supports could be found at 104.64 (daily low), 104.25 (Dec 24 close), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).