USD/JPY breaches 120.00

FXStreet (Córdoba) - USD/JPY has continued to trend lower during the American session, falling below the 120.00 level for first time since the BoJ decided to set negative interest rates last week.

USD/JPY broke below the 120 mark and stretched to a low of 119.83 as stocks remain near session lows just ahead of the Wall Street close. At time of writing, USD/JPY is trading at 119.95, down 0.84% on the day.

USD/JPY technical levels

As for technical levels, next supports are seen at 118.95 (10-day SMA), 118.47 (Jan 29 low) and 118.03/00 (Jan 27 low/psychological level). On the other hand, immediate resistances could be faced at 120.60 (100-day SMA), 121.03 (Feb 2 high) and 121.47 (200-day SMA).