Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/JPY attracts selling interest, vulnerable to more downside

• USD/JPY extended decline  on Wednesday  as investors sought safe-haven assets amid U.S. fiscal uncertainty.

• Investor sentiment remains shaky after Moody's downgrade of U.S. credit, amid concerns Trump's tax plan could add up to $5 trillion to the nation's $36 trillion debt.

• Concerns also persist over stalled U.S. trade negotiations, with both allies and adversaries urging Washington to roll back tariffs.

•  At GMT 07:20, the dollar was down  0.41% to 143.91 against the Japanese yen.

• Immediate resistance is located at 144.61 (Daily high), any close above will push the pair towards 145.47(61.8%fib).

•  Support is seen at 143.63(50%fib) and break below could take the pair towards  141.81(38.2%fib).

 Recommendation: Good to sell around 144.00 with stop loss of 144.80  and target price of 143.40
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.