22 Dec 2014
USD/JPY nears 120.00
FXStreet (Córdoba) - USD/JPY edged higher Monday and approached the 120.00 mark on a quiet trading day amid low liquidity.
USD/JPY has climbed nearly half a cent throughout the day and hit a 2-week high of 119.96 so far. At time of writing, the pair is trading at 119.90, recording a 0.38% gain on the day. The dollar is rising for a fourth consecutive day versus the yen, looking to regain 120.00, after scoring a 1-month low of 115.55 last week.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks above 120.00, next resistances are seen at 120.24 (Dec 4 high) and 121.00 (psychological level/Dec 9 high). On the other hand, supports are seen at 119.30 (daily low), 119.00 (psychological level) and 118.80 (21-day SMA).
USD/JPY has climbed nearly half a cent throughout the day and hit a 2-week high of 119.96 so far. At time of writing, the pair is trading at 119.90, recording a 0.38% gain on the day. The dollar is rising for a fourth consecutive day versus the yen, looking to regain 120.00, after scoring a 1-month low of 115.55 last week.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks above 120.00, next resistances are seen at 120.24 (Dec 4 high) and 121.00 (psychological level/Dec 9 high). On the other hand, supports are seen at 119.30 (daily low), 119.00 (psychological level) and 118.80 (21-day SMA).