10 Mar 2015
USD/JPY on consolidation mode after peaking to 122.00
FXStreet (Tokyo) - The USD/JPY is trading in consolidation mode following the latest bullish movement that took the pair from 121.40 to trade at highs since July 2007 at 122.00.
The pair is trading positive for the fourth day in a 240-pip run from 119.60 priced on March 5th to today's highs. Currently, USD/JPY is trading at 121.75, up 0.50% on the day, having posted a daily high at 122.04 and low at 121.14.
USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
US Dollar to Yen exchange rate Technical levels
As ForexLive analyst Mike Paterson commented previously, there are talks on USD/JPY option experies to the NY cut around "120.50 (USD 1.1bln) 121.00 (USD 230m) and 121.25 (USD 220m)."
As for technical levels, if the USD/JPY breaks above 122.00, it will find resistances at 122.20 and 122.60. To the downside, 121.60, 121.10 and 120.60.
The pair is trading positive for the fourth day in a 240-pip run from 119.60 priced on March 5th to today's highs. Currently, USD/JPY is trading at 121.75, up 0.50% on the day, having posted a daily high at 122.04 and low at 121.14.
USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
US Dollar to Yen exchange rate Technical levels
As ForexLive analyst Mike Paterson commented previously, there are talks on USD/JPY option experies to the NY cut around "120.50 (USD 1.1bln) 121.00 (USD 230m) and 121.25 (USD 220m)."
As for technical levels, if the USD/JPY breaks above 122.00, it will find resistances at 122.20 and 122.60. To the downside, 121.60, 121.10 and 120.60.