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9 Sep 2014
USD/JPY retreats toward 106.00
FXStreet (Córdoba) - Greenback weakened during the last hour of trading in New York against European currencies and versus the yen. USD/JPY hit earlier at 106.46 a fresh 6-year high but then lost momentum and pulled back.
Recently dropped to 106.03, level located 10 pips above daily lows and currently trades at 106.15/20, up 0.13% for the day. Despite moving away from the highs USD/JPY is still headed toward the second daily gain in row and the strongest close since September 25th, 2008.
USD/JPY levels to consider
According to Valeria Bednarik, Chief Analyst at FXStreet USD/JPY needs to accelerate downward below 106.00 “to confirm a more sustainable bearish correction towards 105.40/50 price zone.”
“Renewed buying interest above 106.50 on the other hand, should deny the possibility of a bearish move and see the pair extending up to 107.20 over the upcoming 24 hours”, affirms Bednarik.
Recently dropped to 106.03, level located 10 pips above daily lows and currently trades at 106.15/20, up 0.13% for the day. Despite moving away from the highs USD/JPY is still headed toward the second daily gain in row and the strongest close since September 25th, 2008.
USD/JPY levels to consider
According to Valeria Bednarik, Chief Analyst at FXStreet USD/JPY needs to accelerate downward below 106.00 “to confirm a more sustainable bearish correction towards 105.40/50 price zone.”
“Renewed buying interest above 106.50 on the other hand, should deny the possibility of a bearish move and see the pair extending up to 107.20 over the upcoming 24 hours”, affirms Bednarik.