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25 Feb 2014
USD/JPY falls to 102.00 after US data
FXStreet (Córdoba) - The USD/JPY extended losses to fresh weekly lows after the latest round of US data came in weaker than expected.
US consumer confidence deteriorated in February, with the index falling to 78.1 versus 80.0 expected, while Richmond Fed manufacturing index turned negative in the same month. The USD/JPY slumped on the data but managed to hold above 102.00. At time of writing, the USD/JPY is trading at the 102.15 area, recording a 0.2% loss on the day.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks below 102.00 (daily low/psychological level), it could fall towards 101.55 (100-day SMA). On the flip side, resistances are seen at 102.62/67 (Feb 25 & 24 highs), 102.82 (Feb 21 high) and 103.00 (psychological level).
US consumer confidence deteriorated in February, with the index falling to 78.1 versus 80.0 expected, while Richmond Fed manufacturing index turned negative in the same month. The USD/JPY slumped on the data but managed to hold above 102.00. At time of writing, the USD/JPY is trading at the 102.15 area, recording a 0.2% loss on the day.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks below 102.00 (daily low/psychological level), it could fall towards 101.55 (100-day SMA). On the flip side, resistances are seen at 102.62/67 (Feb 25 & 24 highs), 102.82 (Feb 21 high) and 103.00 (psychological level).