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6 Jan 2015
USD/JPY bounces at 118.00; back to test 118.50
FXStreet (San Francisco) - The US dollar is continuing to negotiate lower against the Japanese yen, as investors are betting on the yen as a relatively safe haven.
Currently, USD/JPY is trading at 118.30, down 1.13% on the day, having posted a daily high at 119.67 and low at 118.05. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY Sentiment
Yen is rising sharply across the board, as Wall Street stock indexes drop more than 1%. Oil is plummeting to fresh multi-year lows below $48 a barrel. "Like it or not," ForexLive's Greg Michalowski comments; "the flight to the relative safety of the JPY is a dominant theme for traders today.
As for the short term, next supports are 118.00, 117.80 and 117.60. To the upside, resistances are at 118.50, 119.20 and 119.40.
Currently, USD/JPY is trading at 118.30, down 1.13% on the day, having posted a daily high at 119.67 and low at 118.05. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY Sentiment
Yen is rising sharply across the board, as Wall Street stock indexes drop more than 1%. Oil is plummeting to fresh multi-year lows below $48 a barrel. "Like it or not," ForexLive's Greg Michalowski comments; "the flight to the relative safety of the JPY is a dominant theme for traders today.
As for the short term, next supports are 118.00, 117.80 and 117.60. To the upside, resistances are at 118.50, 119.20 and 119.40.