30 Apr 2015
USD/JPY extends gains to fresh weekly highs
FXStreet (Córdoba) - USD/JPY rose sharply at the beginning of the New York session and climbed to fresh weekly highs, underpinned by a slide in US jobless claims and fueled by above-expectations Chicago PMI data.
USD/JPY regained the 119.00 level and accelerated to the upside, reaching its highest level in 6 days at 119.60. At time of writing, the pair is trading at 119.50, recording a 0.44% gain. USD/JPY has recovered more than a hundred pips from a 1-month low of 118.49 struck earlier on the day after the BoJ decided to leave monetary policy unchanged.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 119.60 (daily high), 119.73 (38.2% Fibo of 122.02-118.32) and 119.83 (50-day SMA). On the other hand, supports are seen at 118.49 (daily low), 118.32 (Mar 26 low) and 118.00 (psychological level).
USD/JPY regained the 119.00 level and accelerated to the upside, reaching its highest level in 6 days at 119.60. At time of writing, the pair is trading at 119.50, recording a 0.44% gain. USD/JPY has recovered more than a hundred pips from a 1-month low of 118.49 struck earlier on the day after the BoJ decided to leave monetary policy unchanged.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 119.60 (daily high), 119.73 (38.2% Fibo of 122.02-118.32) and 119.83 (50-day SMA). On the other hand, supports are seen at 118.49 (daily low), 118.32 (Mar 26 low) and 118.00 (psychological level).