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22 Mar 2013
Forex: USD/JPY breaks down to yesterday's 94.50 lows
FXstreet.com (Barcelona) - As Hong-Kong and Shanghai were back from lunch break, started to selling off breaking lower previous session supports taking USD/JPY down with it, last at 94.64, off fresh session lows at 94.53, as EUR/USD has been selling off as well following headlines saying Cyprus Fin Min didn't get requested financial support from Russia.
Looks like Tokyo traders don't want to leave open positions for the weekend with all the Cyprus still hanging and are closing down huge profits taking Nikkei index lower -2% at the moment for the day, while USD/JPY is down -0.62% for the week so far, still holding above yesterday's lows at 94.50.
Immediate support to the downside for USD/JPY lies at mentioned yesterday's lows 94.50, followed by Monday's London session lows at 94.30, and early Monday Asia-Pacific lows at 94.05. To the upside, closest resistance shows at past Friday's lows 95.07, followed by March 13 lows at 95.43, and Tuesday's highs at 95.75.
Looks like Tokyo traders don't want to leave open positions for the weekend with all the Cyprus still hanging and are closing down huge profits taking Nikkei index lower -2% at the moment for the day, while USD/JPY is down -0.62% for the week so far, still holding above yesterday's lows at 94.50.
Immediate support to the downside for USD/JPY lies at mentioned yesterday's lows 94.50, followed by Monday's London session lows at 94.30, and early Monday Asia-Pacific lows at 94.05. To the upside, closest resistance shows at past Friday's lows 95.07, followed by March 13 lows at 95.43, and Tuesday's highs at 95.75.