20 Mar 2015
USD/JPY back below 121.00
FXStreet (Edinburgh) - The US dollar is now losing the grip vs. the Japanese counterpart on Friday, dragging USD/JPY back to sub-121.00 levels.
USD/JPY off highs at 121.00
After hitting daily highs around 121.20, spot is now shedding some of the initial gains and is returning to the vicinity of 120.90 amidst thin trade and absence of events in both calendars.
The greenback, in terms of the US Dollar Index, has faded the spike beyond the 99.00 mark in early trade and is now hovering over session lows near 98.70 while sentiment towards the risk-on trade continues to surge.
USD/JPY levels to consider
At the moment the pair is advancing 0.16% at 120.96 with the next hurdle at 121.41 (high Mar.17) followed by 121.57 (high Mar.13) and then 121.67 (high Mar.12). On the other hand, a breakdown of 120.61 (low Mar.20) would aim for 119.68 (low Mar.19) and finally 119.29 (low Mar.18).
USD/JPY off highs at 121.00
After hitting daily highs around 121.20, spot is now shedding some of the initial gains and is returning to the vicinity of 120.90 amidst thin trade and absence of events in both calendars.
The greenback, in terms of the US Dollar Index, has faded the spike beyond the 99.00 mark in early trade and is now hovering over session lows near 98.70 while sentiment towards the risk-on trade continues to surge.
USD/JPY levels to consider
At the moment the pair is advancing 0.16% at 120.96 with the next hurdle at 121.41 (high Mar.17) followed by 121.57 (high Mar.13) and then 121.67 (high Mar.12). On the other hand, a breakdown of 120.61 (low Mar.20) would aim for 119.68 (low Mar.19) and finally 119.29 (low Mar.18).