USD/JPY rejected from 104, makes fresh lows

USD/JPY failed to sustained intraday gains and fell into negative ground for the day, after being rejected from highs above the 104 mark.

USD/JPY came under pressure during the New York session and dipped to a low of 103.29, with the yen being the main exception among majors that is trading higher against an otherwise outperforming dollar. USD/JPY fell back below the 100-day SMA (103.48) and it was last trading at 103.35, recording a 0.23% loss on Tuesday.

USD/JPY levels to watch

In terms of technical levels, next resistances could be found at 104.15 (Oct 6 high), 104.30 (Sep 2 high), 105.00 (psychological level) and 105.56 (Jul 29 high). On the other hand, supports are seen at 102.79 (Oct 10 low), 102.65 (Oct 5 low) and then 102.51 (10-day SMA).