5 Jan 2015
USD/JPY unable to sustain gains
FXStreet (Córdoba) - The dollar pulled back from daily highs versus the yen and turned intraday negative, but it keeps its 2014 high posted back on Dec 8 at 121.83 in sight.
However, USD/JPY has been unable to regain the 121 mark during the past days, after the recovery from 1-month lows at the 115.55 area was capped by the 120.80 zone, with the resistance zone holding despite several upside attempts. Having hit a daily low of 119.97 and a high of 120.63, USD/JPY is currently trading at 120.30, recording a 0.16% loss on the day.
No major data is expected for the US until Tuesday’s ISM manufacturing PMI. Wednesday will see the FOMC minutes while the nonfarm payrolls report will crown the week on Friday.
USD/JPY levels to watch
As for technical levels, next resistances are seen at 120.81 (Dec 23 2014 high) and 121.00 (psychological level), while suppo
However, USD/JPY has been unable to regain the 121 mark during the past days, after the recovery from 1-month lows at the 115.55 area was capped by the 120.80 zone, with the resistance zone holding despite several upside attempts. Having hit a daily low of 119.97 and a high of 120.63, USD/JPY is currently trading at 120.30, recording a 0.16% loss on the day.
No major data is expected for the US until Tuesday’s ISM manufacturing PMI. Wednesday will see the FOMC minutes while the nonfarm payrolls report will crown the week on Friday.
USD/JPY levels to watch
As for technical levels, next resistances are seen at 120.81 (Dec 23 2014 high) and 121.00 (psychological level), while suppo