1 May 2015
USD/JPY: Bulls testing higher territory on 119 handle
FXStreet (Guatemala) - USD/JPY is currently trading 119.60 with a high of 119.63 and a low of 119.39.
USD/JPY has popped higher in Tokyo, challenging the mid point on the 119 handle, meeting some resistance and then a follow through up to the highs. There was a handful of data releases from Japan with a bullish unemployment report and CPI's that didn't come with any surprises or negate anything of yesterday's BoJ statement.
Technically, 118.80 is the key support below current levels while bulls target 120.20 ahead of the 14 year downtrend at 122.20. Below 118.80 lies the late Feb-April support line at 118.20/50, guarding a new range to the downside from 118.80 to 115.80/20 Jan lows again.
USD/JPY has popped higher in Tokyo, challenging the mid point on the 119 handle, meeting some resistance and then a follow through up to the highs. There was a handful of data releases from Japan with a bullish unemployment report and CPI's that didn't come with any surprises or negate anything of yesterday's BoJ statement.
Technically, 118.80 is the key support below current levels while bulls target 120.20 ahead of the 14 year downtrend at 122.20. Below 118.80 lies the late Feb-April support line at 118.20/50, guarding a new range to the downside from 118.80 to 115.80/20 Jan lows again.