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USD/JPY finds support at 105.50

FXStreet (Córdoba) - USD/JPY fell sharply throughout the European session and slid back below 106.00 as the yen remains in demand across the board, with EUR/JPY having scored a fresh 2014 low.

USD/JPY retreated from a daily high of 106.32 and stretched to a low of 105.50 before finding support and recovering slightly. At time of writing, the pair is trading at 105.85, still 0.13% below its opening price.

Next on tap, US will release last week’s initial jobless claims and September’s industrial output.

USD/JPY technical levels

As for technical levels, USD/JPY could find next supports at 105.20 (Oct 15 low), 105.00 (psychological level) and 104.87 (Sept 8 low). On the flip side, resistances are seen at 106.32 (intraday high), 106.97/107.00 (100-hour SMA/psychological level) and 107.48 (Oct 15 high).

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