7 Apr 2015
USD/JPY climbs to 6-day highs
FXStreet (Córdoba) - USD/JPY picked up momentum and extended gains to fresh daily highs at the beginning of the American session.
USD/JPY broke decisively above Friday’s highs and the 120 mark and climbed to a 6-day peak of 120.27 in recent dealings. The yen has lost more than 150 pips versus the dollar over the last sessions, giving up post-nonfarm payrolls gains. At time of writing, the pair is trading at 120.15, recording a 0.54% gain on the day.
In the macro domain, there are no first-tier indicators scheduled for today in the US, while in Japan, the BoJ is expected to keep its benchmark monetary policy on hold tomorrow.
USD/JPY short-term technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the pair has set a significant high in the 120.35 level, “which means a break above it should trigger stops and favor an upward acceleration towards the 121.00 price zone”.
Bednarik locates immediate resistances at 120.40, 120.85 and 121.15, while she places supports at 120.05, 119.60 and 119.20.
USD/JPY broke decisively above Friday’s highs and the 120 mark and climbed to a 6-day peak of 120.27 in recent dealings. The yen has lost more than 150 pips versus the dollar over the last sessions, giving up post-nonfarm payrolls gains. At time of writing, the pair is trading at 120.15, recording a 0.54% gain on the day.
In the macro domain, there are no first-tier indicators scheduled for today in the US, while in Japan, the BoJ is expected to keep its benchmark monetary policy on hold tomorrow.
USD/JPY short-term technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the pair has set a significant high in the 120.35 level, “which means a break above it should trigger stops and favor an upward acceleration towards the 121.00 price zone”.
Bednarik locates immediate resistances at 120.40, 120.85 and 121.15, while she places supports at 120.05, 119.60 and 119.20.