19 Dec 2014
USD/JPY consolidates at weekly highs
FXStreet (Córdoba) - USD/JPY edged higher Friday and reached fresh weekly highs after the BoJ left policy unchanged and supported by an improvement in risk sentiment.
USD/JPY rose more than 70 pips throughout the day, extending its bounce off 1-month lows, and reached a 8-day high of 119.49. However, the pair lost momentum and steadied in a range during the last hours as majors take a breather heading into the end of a volatile week, which saw the FOMC, the SNB and the BoJ decisions.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 119.40, recording a 0.51% gain on the day. As for short-term levels, next resistances are seen at 119.55 (Dec 11 high), 119.92 (Dec 10 high) and 120.00 (psychological level). On the flip side, supports are seen at 118.80 (daily low), 118.25 (Dec 18 low) and 118.00 (psychological level).
USD/JPY rose more than 70 pips throughout the day, extending its bounce off 1-month lows, and reached a 8-day high of 119.49. However, the pair lost momentum and steadied in a range during the last hours as majors take a breather heading into the end of a volatile week, which saw the FOMC, the SNB and the BoJ decisions.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 119.40, recording a 0.51% gain on the day. As for short-term levels, next resistances are seen at 119.55 (Dec 11 high), 119.92 (Dec 10 high) and 120.00 (psychological level). On the flip side, supports are seen at 118.80 (daily low), 118.25 (Dec 18 low) and 118.00 (psychological level).