27 Feb 2015
USD/JPY struggles near technical resistance
FXStreet (Mumbai) - The USD/JPY appears stuck near the technical resistance located at 119.39-119.40 levels, after having bounced-off from the low of 119.10. The pair had failed to rise above 119.39-40 levels on 17th and 18th Feb.
USD/JPY: awaits fresh triggers
The pair lacks fresh triggers at the moment as the major European equity indices are trading flat. The European economic calendar is thin with juts German preliminary CPI reading due for release in a few hours. The 10-year Treasury yield in the US too, seems to have consolidated around 2.05%; up 3.5 basis points for the day. Thus, the pair is struggling to extend gains above 119.40 levels.
A major move could be seen post the release of a second estimate of a US Q4 GDP due for release at 13:30 GMT. Till then, absence of fresh cues could see the pair trade lackluster.
USD/JPY Technical Levels
The pair currently trades 0.03% higher at 119.39. A break above the same could open doors for 120.00 levels. On the flip side, failure to rise above 119.39 could send the pair down to 118.90 levels.
USD/JPY: awaits fresh triggers
The pair lacks fresh triggers at the moment as the major European equity indices are trading flat. The European economic calendar is thin with juts German preliminary CPI reading due for release in a few hours. The 10-year Treasury yield in the US too, seems to have consolidated around 2.05%; up 3.5 basis points for the day. Thus, the pair is struggling to extend gains above 119.40 levels.
A major move could be seen post the release of a second estimate of a US Q4 GDP due for release at 13:30 GMT. Till then, absence of fresh cues could see the pair trade lackluster.
USD/JPY Technical Levels
The pair currently trades 0.03% higher at 119.39. A break above the same could open doors for 120.00 levels. On the flip side, failure to rise above 119.39 could send the pair down to 118.90 levels.