13 Aug 2015
USD/JPY creeps to fresh highs at 124.60
FXStreet (Mumbai) - The US dollar extends its gradual ascent versus the Japanese yen in the European morning, driving USD/JPY to fresh session highs beyond 124.50 levels.
USD/JPY rises from 124.35 levels
Currently, the USD/JPY pair trades 0.29% higher at fresh session highs of 124.60, aiming higher to reclaim 125 handle. The USD bulls are seen gathering pace carefully and gradually as markets remain wary ahead of the crucial retail sales and jobless claims data from the US due later today. Retail sales are expected to improve sharply from last month's surprising fiasco.
Earlier in Asia, the USD/JPY pair was little impacted by third day of PBOC yuan devaluation as markets moved past the negative implications of Yuan fix on Sept Fed rate hike as the new Chinese currency regimes is slowly digested.
Moreover, the major also continues to garner strength on dovish comments by Japan’s PM adviser Hamada as also on poor Japan macro data.
USD/JPY Technical Levels
To the upside, the next resistance is located 124.80 (Aug 10 High) levels and above which it could extend gains 125.08 (Aug 7 High) levels. To the downside immediate support might be located at 124.07 (Today’s Low) below that at 123.77 (Aug 12 Low) levels.
USD/JPY rises from 124.35 levels
Currently, the USD/JPY pair trades 0.29% higher at fresh session highs of 124.60, aiming higher to reclaim 125 handle. The USD bulls are seen gathering pace carefully and gradually as markets remain wary ahead of the crucial retail sales and jobless claims data from the US due later today. Retail sales are expected to improve sharply from last month's surprising fiasco.
Earlier in Asia, the USD/JPY pair was little impacted by third day of PBOC yuan devaluation as markets moved past the negative implications of Yuan fix on Sept Fed rate hike as the new Chinese currency regimes is slowly digested.
Moreover, the major also continues to garner strength on dovish comments by Japan’s PM adviser Hamada as also on poor Japan macro data.
USD/JPY Technical Levels
To the upside, the next resistance is located 124.80 (Aug 10 High) levels and above which it could extend gains 125.08 (Aug 7 High) levels. To the downside immediate support might be located at 124.07 (Today’s Low) below that at 123.77 (Aug 12 Low) levels.