12 Jan 2015
USD/JPY retreats, trades above 118 handle
FXStreet (Mumbai) - The Japanese yen continued its rise against the US counterpart from the previous session. However, traded in a narrow range as Japan remains closed today in observance of Coming-of-Age Day.
Currently, the USD/JPY pair traded at 118.31, down -0.14% on the day, after having posted intraday low at 118.51 levels an hour ago. The Japanese yen edged higher against the US dollar after a setback following the release of non-farm payrolls in the US last Friday. US non-farm payrolls rose by 252,000 during December, down from the upwardly revised 353,000 snatched in the previous month, while the jobless rate dropped to 5.6% from 5.8%.
In the day ahead, the USD/JPY pair is likely to trade subdued amid a data-light European and the US session.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119 levels and above which it could extend gains 119.50 levels. To the downside immediate support might be located at 118 levels, below that at 117.54 levels.
Currently, the USD/JPY pair traded at 118.31, down -0.14% on the day, after having posted intraday low at 118.51 levels an hour ago. The Japanese yen edged higher against the US dollar after a setback following the release of non-farm payrolls in the US last Friday. US non-farm payrolls rose by 252,000 during December, down from the upwardly revised 353,000 snatched in the previous month, while the jobless rate dropped to 5.6% from 5.8%.
In the day ahead, the USD/JPY pair is likely to trade subdued amid a data-light European and the US session.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119 levels and above which it could extend gains 119.50 levels. To the downside immediate support might be located at 118 levels, below that at 117.54 levels.