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25 Sep 2015
USD/JPY retreats and drops back below 121.00
FXStreet (Córdoba) - USD/JPY dropped 75 pips from daily highs and fell back below 121.00 after the beginning of trading in Wall Street. The pair earlier climbed to 121.22, reaching the highest level since September 10 after the release of US GDP data but then reversed and fell below the level it had before the report.
The decline from 121.20 found support at 120.50. Currently it was trading at 120.70/75, up 0.55% for the day so far.
USD/JPY ending week higher but still range bound
The pair is trading above the level it had seven days ago but remains moving in a range, with an unclear bias. To the upside, price continues to be unable to consolidate above 121.00 while the downside remains capped by 119.00.
During September it traded outside the range but it was always rejected. Despite US data today and even last week’s Federal Reserve decision, USD/JPY continued to move sideways. It is about to end the month practically unchanged, despite all market volatility.
The decline from 121.20 found support at 120.50. Currently it was trading at 120.70/75, up 0.55% for the day so far.
USD/JPY ending week higher but still range bound
The pair is trading above the level it had seven days ago but remains moving in a range, with an unclear bias. To the upside, price continues to be unable to consolidate above 121.00 while the downside remains capped by 119.00.
During September it traded outside the range but it was always rejected. Despite US data today and even last week’s Federal Reserve decision, USD/JPY continued to move sideways. It is about to end the month practically unchanged, despite all market volatility.