FxWirePro: USD/JPY recovers slightly from overnight slump, struggles to regain 124 handle
USD/JPY slumped to fresh three-week lows on Wednesday following the release of FOMC minutes Dovish Fed minutes, with no clear sign of an imminent Sept hike and downbeat July US inflation figures dragged the buck lower Bi…
USD/JPY slumped to fresh three-week lows on Wednesday following the release of FOMC minutes
Dovish Fed minutes, with no clear sign of an imminent Sept hike and downbeat July US inflation figures dragged the buck lower
Bid tone in USD/JPY intact in mid-Asian session, the pair is attempting a mild recovery to regain 124 handle
Overall bias bearish, cresting Tenkan and the thin Cloud well below reinforce bearish view
USD/JPY is currently trading at 123.90, with immediate resistance located at 124.50 (Aug 19 High) levels and above which it could extend gains 124.64 (Aug 13 High) levels
To the downside immediate support might be located at 123.82 (Today's Low) below that at 123.65 (50-DMA) levels
