11 Feb 2015
USD/JPY on its way to 120.00?
FXStreet (Edinburgh) - The US dollar extends its upbeat momentum vs. its Japanese counterpart, sending USD/JPY to the upper-119.00s.
USD/JPY closer to 120.00
The pair is navigating multi-week tops in the 119.80/90 area following the renewed tone from the greenback. A good performance from the US 10-year yields keep acting as a decent support for the dollar, which remains on its way to re-visit the 120.00 handle.
While Japanese markets are on holidays, the only scheduled events in the US economy will be Mortgage Approvals tracked by MBA and the speech by Fed’s Fischer.
USD/JPY levels to consider
The pair is now gaining 0.40% at 119.87 with the immediate hurdle at 119.97 (high Jan.8) followed by the psychological level at 120.00 and then 120.68 (high Jan.5). On the flip side, a break below 119.06 (daily cloud top) would target 118.40 (low Feb.10) en route to 118.33 (low Feb.9).
USD/JPY closer to 120.00
The pair is navigating multi-week tops in the 119.80/90 area following the renewed tone from the greenback. A good performance from the US 10-year yields keep acting as a decent support for the dollar, which remains on its way to re-visit the 120.00 handle.
While Japanese markets are on holidays, the only scheduled events in the US economy will be Mortgage Approvals tracked by MBA and the speech by Fed’s Fischer.
USD/JPY levels to consider
The pair is now gaining 0.40% at 119.87 with the immediate hurdle at 119.97 (high Jan.8) followed by the psychological level at 120.00 and then 120.68 (high Jan.5). On the flip side, a break below 119.06 (daily cloud top) would target 118.40 (low Feb.10) en route to 118.33 (low Feb.9).