FXStreet (Córdoba) – USD/JPY bounced off lows and regained the 124 mark at the beginning of the American session, after falling to a 5-day low.
USD/JPY bottomed out at 123.85 but the dollar managed to take back some of the lost ground. However, with the recovery attempt capped by 124.33, the pair was confined to a range over the last hours. At time of writing, USD/JPY is trading at 124.10, still 0.29% below its opening price.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find next supports at 124.85 (daily low), 123.75 (Jun 2 low) and 123.48 (May 28 low). On the other hand, resistances are seen at 124.73 (daily high), 125.04 (Jun 2 high) and 125.85 (13-year high Jun 5).
(Market News Provided by FXstreet)