USD/JPY back to negative territory, eyes daily lows

By FXStreet FXStreet (Córdoba) – USD/JPY reversed and moved toward daily lows as the US dollar declined across the board, it was still standing above 120.00.

USD/JPY unable to rally

The pair rose earlier above the hourly 20-SMA that was offering resistance at 120.40 but after hitting 120.48 lost strength and pulled back quickly. Currently is trading at 120.18/22, at the lowest for the US session, moving toward daily lows that lie at 120.11. The US dollar is lower today, not only against the yen bus across the board.

The USD/JPY pair is falling on Tuesday after making an important rally of 200 pips from Friday’s lows at 118.65 (4-week low) to 120.55 (daily high).

Main stock indexes were mixed in the Wall Street, moving away from daily highs. The Dow Jones was up 0.13% and the Nasdaq was down 0.72%. US bond were mostly unchanged, after erasing losses during the last hour.
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Source:: FX Street