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21 Aug 2015
USD/JPY hits 6-week lows
FXStreet (Córdoba) - USD/JPY is extending losses into a third day Friday with a risk-off sense surrounding financial markets, as the dollar continues to underperform following more dovish than expected FOMC minutes published earlier this week.
USD/JPY broke below the 123.00 level and extended the decline to a fresh 5-week low of 122.45 in recent dealings. At time of writing, the pair is trading at 122.65, recording a 0.58% loss on Friday and 1.31% lower so far this week.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate supports at 122.45 (Aug 21 low), 122.28 (100-day SMA) and 122.00 (psychological level). On the flip side, resistances are seen at 123.48 (Aug 21 high), 124.15 (Aug 20 high/21-day SMA) and 124.45 (Aug 19 high).
USD/JPY broke below the 123.00 level and extended the decline to a fresh 5-week low of 122.45 in recent dealings. At time of writing, the pair is trading at 122.65, recording a 0.58% loss on Friday and 1.31% lower so far this week.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate supports at 122.45 (Aug 21 low), 122.28 (100-day SMA) and 122.00 (psychological level). On the flip side, resistances are seen at 123.48 (Aug 21 high), 124.15 (Aug 20 high/21-day SMA) and 124.45 (Aug 19 high).