19 Feb 2015
USD/JPY flirts with 119.00 levels
FXStreet (Mumbai) - The USD/JPY pair continues to trade around 119.00 levels ahead of the data in the US which could show the initial jobless claims increased 290K in the previous week.
JPY falls as US rates rise despite Greece-led uncertainty
The pair recovered from the low of 118.42 to hit a high of 119.10 as the US rates recovered from the post Fed minutes slump. The 10-year yield recovered from the low of 2.043% to a high of 2.092%. Moreover, the yields stay resilient despite renewed concerns regarding the Greece’s debt issue after the German government rejected Greece’s government’s debt extension proposal. Consequently, the pair only eased about 10 pips to from the day’s high to trade at 119.00 levels; up 0.18% for the day.
The pair could extend gains if the initial jobless claims fall more than the expected print of 290K. On the other hand, a sharp rise in the jobless claims number could help strengthen the Yen.
USD/JPY Technical Levels
The immediate resistance is seen at 119.39, above which gains could be extended to 119.68 levels. On the flip side, a break below 118.82 could see the pair re-test the daily low at 118.42.
JPY falls as US rates rise despite Greece-led uncertainty
The pair recovered from the low of 118.42 to hit a high of 119.10 as the US rates recovered from the post Fed minutes slump. The 10-year yield recovered from the low of 2.043% to a high of 2.092%. Moreover, the yields stay resilient despite renewed concerns regarding the Greece’s debt issue after the German government rejected Greece’s government’s debt extension proposal. Consequently, the pair only eased about 10 pips to from the day’s high to trade at 119.00 levels; up 0.18% for the day.
The pair could extend gains if the initial jobless claims fall more than the expected print of 290K. On the other hand, a sharp rise in the jobless claims number could help strengthen the Yen.
USD/JPY Technical Levels
The immediate resistance is seen at 119.39, above which gains could be extended to 119.68 levels. On the flip side, a break below 118.82 could see the pair re-test the daily low at 118.42.