FXStreet (Córdoba) – USD/JPY has lost a few pips over the last hours but overall remains steady within its daily range as investors stay sidelined in a quiet New York session.
USD/JPY extended its pullback from yesterday’s peak of 124.36 and bottomed out at 123.30 as the dollar rally lost momentum across the board after a strong beginning of the week. However, the yen lacked strength and confined USD/JPY to a phase of consolidation.
The greenback failed to benefit from positive US data, including a surprise rise in consumer spending and better-than-expected initial jobless claims.
USD/JPY key levels
At time of writing, the pair is trading at 123.50, 0.26% below its opening price. On the downside, immediate supports are seen at 123.30 (Jun 25 low) 123.00 (psychological level) and 122.55 (Jun 22 low), while on the upside, resistances line up at 123.95 (Jun 25 high), 124.36 (Jun 23 high) and 124.44 (Jun 17 high).
(Market News Provided by FXstreet)