12 Jan 2015
Yen defends mild gains versus USD amid lack of fresh triggers
FXStreet (Mumbai) - The Japanese yen continued to ride slightly higher on last week’s gain against the US counterpart, in absence of any major economic release in the US session ahead.
Currently, the USD/JPY pair traded unchanged from Asian session at 118.31, down -0.14% on the day, after having posted intraday low at 118.51 levels. The Japanese yen is expected to remain elevated versus the greenback as markets will now focus on Japan's upcoming trade and current account data due for release tomorrow for any major impacts on the currency pair. The Japanese markets are closed today due to holiday.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119 levels and above which it could extend gains 119.50 levels. To the downside immediate support might be located at 118 levels, below that at 117.54 levels.
Currently, the USD/JPY pair traded unchanged from Asian session at 118.31, down -0.14% on the day, after having posted intraday low at 118.51 levels. The Japanese yen is expected to remain elevated versus the greenback as markets will now focus on Japan's upcoming trade and current account data due for release tomorrow for any major impacts on the currency pair. The Japanese markets are closed today due to holiday.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119 levels and above which it could extend gains 119.50 levels. To the downside immediate support might be located at 118 levels, below that at 117.54 levels.