4 Jun 2015
USD/JPY extends recovery, hits fresh daily highs
FXStreet (Córdoba) - USD/JPY is back at the upper side of today’s range as the dollar takes back losses across the board after a steep fall over the last days.
USD/JPY bounced off once again from the 123.75 zone and having climbed more than 80 pips over the last hours it has reached a fresh daily high of 124.61. Better-than-expected US jobless claims data helped the greenback. The dollar managed to extend gains even after the IMF downgraded US GDP outlook and suggested the Fed should wait until 2016 to hike rates.
At time of writing, the pair is trading at 124.55, 0.21% above its opening price with immediate resistances seen at 124.67 (Jun 3 high) and 125.04 (Jun 2 high). On the other hand, supports could be found at the 123.75 area (Jun 2, 3, 4 lows) and 123.50 (10-day SMA).
USD/JPY bounced off once again from the 123.75 zone and having climbed more than 80 pips over the last hours it has reached a fresh daily high of 124.61. Better-than-expected US jobless claims data helped the greenback. The dollar managed to extend gains even after the IMF downgraded US GDP outlook and suggested the Fed should wait until 2016 to hike rates.
At time of writing, the pair is trading at 124.55, 0.21% above its opening price with immediate resistances seen at 124.67 (Jun 3 high) and 125.04 (Jun 2 high). On the other hand, supports could be found at the 123.75 area (Jun 2, 3, 4 lows) and 123.50 (10-day SMA).