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14 Feb 2014
USD/JPY ends the week below 102.00
FXStreet (Córdoba) - Having spent most of the day within a narrow range below 102.00, the USD/JPY is on track to close the week with losses as the greenback was under broad pressure.
The dollar failed to sustain momentum ignited by Yellen remarks Tuesday after she signaled the Fed will most likely continue the taper path Bernanke started in December. The USD/JPY was rejected by the 102.70 resistance area and turned south amid disappointing US data.
On Friday, the pair lost the 102.00 mark and entered a consolidation phase. At time of writing, the USD/JPY is trading at the 101.80 zone, down 0.3% on the day and recording a 0.5% weekly drop, extending the longer-term bearish bias that started at 105.43 late December.
The dollar failed to sustain momentum ignited by Yellen remarks Tuesday after she signaled the Fed will most likely continue the taper path Bernanke started in December. The USD/JPY was rejected by the 102.70 resistance area and turned south amid disappointing US data.
On Friday, the pair lost the 102.00 mark and entered a consolidation phase. At time of writing, the USD/JPY is trading at the 101.80 zone, down 0.3% on the day and recording a 0.5% weekly drop, extending the longer-term bearish bias that started at 105.43 late December.