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7 Jan 2014
USD/JPY trims daily gains
FXstreet.com (Córdoba) - Following a decent comeback, the USD/JPY found resistance during the European session and retraced most of its intraday gains.
The USD/JPY recovery from 2-week lows sub-104.00 lost momentum at the 104.60 area in a quiet session Tuesday, with the pair pulling back from highs. At time of writing, the USD/JPY is trading at the 104.35 zone, still 0.1% above its opening price. Up ahead, the US will release November's trade balance and January's IBD/TIPP Economic Optimism.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 104.15 (daily low), 104.07 (Jan 3 low) and 103.90 (Jan 6 low). On the other hand, resistances could be faced at 104.60 (daily high) and the 104.94/105.00 area (Jan 6 high/psychological level) and 105.44 (Jan 2 high).
The USD/JPY recovery from 2-week lows sub-104.00 lost momentum at the 104.60 area in a quiet session Tuesday, with the pair pulling back from highs. At time of writing, the USD/JPY is trading at the 104.35 zone, still 0.1% above its opening price. Up ahead, the US will release November's trade balance and January's IBD/TIPP Economic Optimism.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 104.15 (daily low), 104.07 (Jan 3 low) and 103.90 (Jan 6 low). On the other hand, resistances could be faced at 104.60 (daily high) and the 104.94/105.00 area (Jan 6 high/psychological level) and 105.44 (Jan 2 high).