22 Jan 2015
USD/JPY hits fresh daily highs
FXStreet (Mumbai) - The USD/JPY pair broke the narrow channel and edged higher in the Asian morning, as the US dollar recovered previous losses and regained lost ground.
Currently, the USD/JPY pair posts fresh day’s high at 118.33, gaining 0.30% on the day. The USD/JPY pair is expected to remain elevated as the US dollar takes charge against most of its major peers. The pair is likely to be supported as traders seemed to have moved past Bank of Japan's (BOJ) new measures and eagerly await the upcoming ECB Meeting.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.86 levels and above which it could extend gains 119.08 levels. To the downside immediate support might be located at 117.53 (Jan 13 Low) levels, below that at117.22 (Nov 27 Low) levels.
Currently, the USD/JPY pair posts fresh day’s high at 118.33, gaining 0.30% on the day. The USD/JPY pair is expected to remain elevated as the US dollar takes charge against most of its major peers. The pair is likely to be supported as traders seemed to have moved past Bank of Japan's (BOJ) new measures and eagerly await the upcoming ECB Meeting.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.86 levels and above which it could extend gains 119.08 levels. To the downside immediate support might be located at 117.53 (Jan 13 Low) levels, below that at117.22 (Nov 27 Low) levels.