16 Jan 2015
USD/JPY posts fresh daily highs at 116.69
FXStreet (Mumbai) - USD/JPY extended gains and climbed higher in the early European morning, as traders see dust settling after yesterday’s massive volatility in currency markets.
Currently, the USD/JPY pair hit fresh daily highs at 116.69 levels, gaining 0.43% on the day. The US dollar regained lost territory versus major currencies today after a huge sell-off seen yesterday on the back of surprising step of the SNB. The markets are still absorbing the SNB black swan event and have calmed a bit.
Markets main focus now is the US CPI data, due later in the session. Inflation is expected to ease from last month's 1.3% to 0.7% on a yearly basis, while core inflation is predicted to stay at 1.7%.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.05 levels and above which it could extend gains 117.94 levels. To the downside immediate support might be located at 115.71 levels, below that at 115.44 levels.
Currently, the USD/JPY pair hit fresh daily highs at 116.69 levels, gaining 0.43% on the day. The US dollar regained lost territory versus major currencies today after a huge sell-off seen yesterday on the back of surprising step of the SNB. The markets are still absorbing the SNB black swan event and have calmed a bit.
Markets main focus now is the US CPI data, due later in the session. Inflation is expected to ease from last month's 1.3% to 0.7% on a yearly basis, while core inflation is predicted to stay at 1.7%.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.05 levels and above which it could extend gains 117.94 levels. To the downside immediate support might be located at 115.71 levels, below that at 115.44 levels.