6 Apr 2015
USD/JPY hits fresh session highs above 119.10
FXStreet (Mumbai) - USD/JPY climbed higher in the mid-European session, bringing an end to its side-ways movement seen so far as US dollar rises to catch a fresh breathe of air versus the yen after Friday’s discouraging payrolls figures dragged the pair to lowest in seven days.
USD/JPY eyes 100-DMA
Currently, the USD/JPY trades higher at 119.11 levels, rising in an attempt to breach 100-DMA. The USD/JPY pair continues its gradual recovery mode as traders now await US macro data due in the session ahead for fresh incentives on the pair.
The US dollar tries to regain lost ground across the board following a major sell-off after the US non-farm payrolls data came out below estimates. However, the upside remains capped until the strong resistance at 100-DMA placed at 119.21 levels is surpassed.
The bounce-back in USD/JPY is seen largely on the back of a minor recovery in 10-yr treasury yields, moving away from eight-week lows and rising above 1.843% ahead of US open.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.21 (100-DMA) levels and above which it could extend gains 119.42 (10-DMA) levels. To the downside immediate support might be located at 118.96 below that at 118.69 levels.
USD/JPY eyes 100-DMA
Currently, the USD/JPY trades higher at 119.11 levels, rising in an attempt to breach 100-DMA. The USD/JPY pair continues its gradual recovery mode as traders now await US macro data due in the session ahead for fresh incentives on the pair.
The US dollar tries to regain lost ground across the board following a major sell-off after the US non-farm payrolls data came out below estimates. However, the upside remains capped until the strong resistance at 100-DMA placed at 119.21 levels is surpassed.
The bounce-back in USD/JPY is seen largely on the back of a minor recovery in 10-yr treasury yields, moving away from eight-week lows and rising above 1.843% ahead of US open.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.21 (100-DMA) levels and above which it could extend gains 119.42 (10-DMA) levels. To the downside immediate support might be located at 118.96 below that at 118.69 levels.