18 May 2015
USD/JPY extends gains but falters ahead of 120.00
FXStreet (Córdoba) - USD/JPY managed to post fresh daily highs during the New York session following another round of dollar demand despite below expectations US housing data.
USD/JPY pushed higher and scored a peak of 119.88 before finding resistance and easing slightly. At time of writing, the pair was trading at the 119.80 zone, recording a 0.36% gain on the day.
This week, the FOMC minutes on Wednesday and the US CPI release on Friday could offer inspiration to USD/JPY, which has spent the last sessions wavering directionless between 119 and 121.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen 119.88 (daily high), 119.92 (May 15 high) and 120.27 (May 12 high). On the other hand, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).
USD/JPY pushed higher and scored a peak of 119.88 before finding resistance and easing slightly. At time of writing, the pair was trading at the 119.80 zone, recording a 0.36% gain on the day.
This week, the FOMC minutes on Wednesday and the US CPI release on Friday could offer inspiration to USD/JPY, which has spent the last sessions wavering directionless between 119 and 121.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen 119.88 (daily high), 119.92 (May 15 high) and 120.27 (May 12 high). On the other hand, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).