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16 Mar 2015
USD/JPY challenges session lows
FXStreet (Edinburgh) - The greenback is now losing the grip vs. its Japanese counterpart on Monday, dragging USD/JPY to the lower bound of the daily range near 121.20.
USD/JPY softer on US data
The pair’s decline is gathering pace following the disappointing results from the US docket. Industrial Production expanded less than expected in February 0.1% vs. 0.2% forecasted while Capacity Utilization dropped to 78.9% from 79.1%.
Ahead in the session, the Housing Market index tracked by NAHB is due with consensus expecting the index to tick higher to 56 for the current month from 55 previous.
USD/JPY key levels
As of writing the pair is down 0.20% at 121.13 with the next support at 120.66 (low Mar.12) followed by 120.62 (low Mar.9) and then 119.92 (21-d MA). On the other hand, a breakout of 121.67 (high Mar.12) would open the door to 122.04 (2015 high Mar.10) and finally 123.00 (psychological level).
USD/JPY softer on US data
The pair’s decline is gathering pace following the disappointing results from the US docket. Industrial Production expanded less than expected in February 0.1% vs. 0.2% forecasted while Capacity Utilization dropped to 78.9% from 79.1%.
Ahead in the session, the Housing Market index tracked by NAHB is due with consensus expecting the index to tick higher to 56 for the current month from 55 previous.
USD/JPY key levels
As of writing the pair is down 0.20% at 121.13 with the next support at 120.66 (low Mar.12) followed by 120.62 (low Mar.9) and then 119.92 (21-d MA). On the other hand, a breakout of 121.67 (high Mar.12) would open the door to 122.04 (2015 high Mar.10) and finally 123.00 (psychological level).