6 Apr 2015
USD/JPY clings to 119.00
FXStreet (Córdoba) - USD/JPY entered a quieter phase on Monday following nonfarm payrolls inspired sell-off, having spent most of the day in a range around 119.00.
USD/JPY bottomed out at 118.79 during the Asian session, but with the subsequent bounce being capped by 119.15, the pair was confined to a consolidative phase, with the latest string of US economic data, barely affecting the price.
Friday’s nonfarm payrolls disappointment raised doubts about a rate hike by the Fed, hurting the US dollar. Today Fed’s Dudley reiterated the hike timing remains data dependent.
USD/JPY levels to watch
As for technical levels, immediate supports are seen at 118.71 (post-NFP Apr 3 low) and 118.32 (Mar 26 low). On the other hand, resistances could be found at 119.16 (daily high) and 119.43 (50-day SMA).
USD/JPY bottomed out at 118.79 during the Asian session, but with the subsequent bounce being capped by 119.15, the pair was confined to a consolidative phase, with the latest string of US economic data, barely affecting the price.
Friday’s nonfarm payrolls disappointment raised doubts about a rate hike by the Fed, hurting the US dollar. Today Fed’s Dudley reiterated the hike timing remains data dependent.
USD/JPY levels to watch
As for technical levels, immediate supports are seen at 118.71 (post-NFP Apr 3 low) and 118.32 (Mar 26 low). On the other hand, resistances could be found at 119.16 (daily high) and 119.43 (50-day SMA).