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10 Dec 2014
USD/JPY falls to 118.00; 117.90 on focus
FXStreet (San Francisco) - The US Dollar is extending its decline against the Yen since investors are taking profits before snap elections in Japan and the FOMC next week. After declining 140 pips from 119.40 in the US session, the USD/JPY is testing the 118.00 area.
Currently, USD/JPY is trading at 118.06, down 1.29% on the day, having posted a daily high at 119.93 and low at 118.00. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY sentiment
The Japanese Yen is advancing further on Wednesday amid a continuation of the unwinding that has taken place ahead of the end of the year.
Below the 118.00 level, the pair will find key support at 117.90 ahead of 117.70 and 117.30. To the upside, resistances are at 118.70, 119.40 and 119.90.
Currently, USD/JPY is trading at 118.06, down 1.29% on the day, having posted a daily high at 119.93 and low at 118.00. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY sentiment
The Japanese Yen is advancing further on Wednesday amid a continuation of the unwinding that has taken place ahead of the end of the year.
Below the 118.00 level, the pair will find key support at 117.90 ahead of 117.70 and 117.30. To the upside, resistances are at 118.70, 119.40 and 119.90.