USD JPY Fundamental Analysis 2
8/9/2016 10:41:53 AM
The USD/JPY pair confronted rejection once more at 102.50 levels and dropped near daily lows, as the dollar carry on to merge the recent gains backed by auspicious US jobs data. The USD/JPY pair came under fresh selling pressure and plunged to session lows in the last hour, as the major failed to profit from a risk-friendly market environment fuelled by higher European equities and a recovery in oil prices. Furthermore, the USD/JPY pair also lacks momentum as the USD trades modestly flat against its major peers, reversing gains seen earlier on the day. At the time of writing, USD/JPY fell -0.14% to 102.32, floating close to daily lows previously posted at 102.29. While the pan-European benchmark, the Euro Stoxx jumps +0.50%. In terms of technical, the immediate persistence is situated at 102.53. A break above the last, the major could test 102.70. While to the downside, the immediate support is seen at 101.99 and below that at 101.50. https://www.fxervin.com/
