USD/JPY rises toward 119.00

FXStreet (Córdoba) - USD/JPY broke above 118.65 and climbed to 118.90 reaching the highest price since last Friday. The yen weakened across the board while stocks recovered ground and US bond yields rose. So far, the Japanese currency is among the worst performers.

During the Asian session the pair dropped to 118.22, the lowest price since February 6 and rebounded. Yesterday USD/JPY posted the lowest daily close in a week.

USD/JPY technical levels

To the upside, above 119.00 immediate resistance lies at 119.20 (Feb 06, 13 highs) followed by 119.60 and 119.95. On the opposite direction support might lie at 118.65, 118.20/25 (daily low) and 118.00.