6 Mar 2015
USD/JPY steadies above 120.00
FXStreet (Mumbai) - The USD/JPY pair is trading steady around 120.05-120.10 levels, after having inched slightly lower from a session high of 120.18. The pair bounced-off from the 5-DMA located at 119.91 earlier today.
USD/JPY: Greenback strengthens ahead of the NFP report
The US dollar is strengthening against most major currencies ahead of the data in the US, which could show economy added 240K new jobs in February and the unemployment rate to decline to 5.6% from the previous 5.7%. Meanwhile, the Treasury yields in the US are trading lackluster. The 10-year yield is flat around 2.108%, while the 2-year yield is up marginally at 0.647%.
USD/JPY Technical Levels
The immediate resistance is seen at 120.34, above which gains could be extended to 120.81 levels. On the other hand, a break below 120.00 could see the pair falling to 119.42 levels.
USD/JPY: Greenback strengthens ahead of the NFP report
The US dollar is strengthening against most major currencies ahead of the data in the US, which could show economy added 240K new jobs in February and the unemployment rate to decline to 5.6% from the previous 5.7%. Meanwhile, the Treasury yields in the US are trading lackluster. The 10-year yield is flat around 2.108%, while the 2-year yield is up marginally at 0.647%.
USD/JPY Technical Levels
The immediate resistance is seen at 120.34, above which gains could be extended to 120.81 levels. On the other hand, a break below 120.00 could see the pair falling to 119.42 levels.