USD / JPY retreats from highs in almost two weeks to levels below 114.00

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  • The dollar loses moment before the American session.
  • USD / JPY returns to the previous lag, around 114.00.
  • The yen is supported by caution in the markets.

The USD / JPY reached in hours of the Asian session to 114.30, the highest level in almost two weeks, but then changed direction and undertook a retracement. It recently fell to 113.92, marking a new low for the day.

The dollar is favored by the rise in Treasury bond yields and by a generalized strength, given the growing expectation about the possibility of a monetary adjustment by the Federal Reserve, earlier than expected.

On the other hand, the yen, despite falling against the dollar, is firm against the rest of its rivals, in a week with some caution in the equity markets, which favored the demand for safe haven currencies.

On Friday in the US will be published the consumer confidence report from the University of Michigan and the data from the labor market notices.

From a technical point of view, the USD / JPY bounce back above 113.40 brought the pair back to the previous range between that level and 114.40. The consolidation is expected to hold firm as long as it remains around 114.00. A return below 113.30 would increase bearish pressures, while above 114.40 a bullish prolongation would be expected.

Technical levels

USD/JPY

Overview

Today last price114.02

Today Daily Change-0.05

Today Daily Change %-0.04

Today daily open114.07

Trends

Daily SMA20113.86

Daily SMA50112.07

Daily SMA100111.08

Daily SMA200109.83

Levels

Previous Daily High114.16

Previous Daily Low113.81

Previous Weekly High114.44

Previous Weekly Low113.3

Previous Monthly High114.7

Previous Monthly Low110.82

Daily Fibonacci 38.2%114.02

Daily Fibonacci 61.8%113.94

Daily Pivot Point S1113.87

Daily Pivot Point S2113.66

Daily Pivot Point S3113.52

Daily Pivot Point R1114.22

Daily Pivot Point R2114.36

Daily Pivot Point R3114.57

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