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USD/JPY back below 123.00


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FXStreet (Córdoba) – USD/JPY retreated from above 123.00 but continues to trade at 8-year highs supported by upbeat US data and recent comments from Fed.

USD/JPY picked up momentum and extended gains past the 123.00 level after US durable goods orders, and reached its highest level since Jul 10 2007 at 123.31. The pair has eased from highs, but holds onto a gain of 1.15% on the day, currently trading at 122.95.


USD/JPY levels to watch


On the upside, next resistances are seen at 123.47 (Jul 10 high), 123.65 (Jul 9 2007 high) and 124.00 (psychological level). On the downside, supports could be found at 122.45 (intraday level), 122.00 (psychological level) and 121.44 (May 25 low).