11 May 2015
USD/JPY hits fresh highs slightly above 120.00
FXStreet (Córdoba) - Greenback gained momentum across the board during Monday's American session and pushed USD/JPY back above 120.00. The pair reached a fresh daily high at 120.05 and is holding on top of 120.00
Earlier it dropped to 119.80 but then bounced to the upside. The pair is recovering ground on Monday, after falling on Friday from 120.25 to 119.55/60 following the release of the US employment report.
USD/JPY outlook
Despite Friday's retreat the pair still holds a bullish tone in the short term after finding support around 119.00 last Thursday and rising back above 119.60. To the upside, above 120.00 the next key level lies at 120.30 (May 1, 4 high).
If the pair falls below 119.60 the outlook could start pointing to the downside. Support levels under 119.60 might lie at 119.35, 119.20 and 119.05 (May 7 high).
Earlier it dropped to 119.80 but then bounced to the upside. The pair is recovering ground on Monday, after falling on Friday from 120.25 to 119.55/60 following the release of the US employment report.
USD/JPY outlook
Despite Friday's retreat the pair still holds a bullish tone in the short term after finding support around 119.00 last Thursday and rising back above 119.60. To the upside, above 120.00 the next key level lies at 120.30 (May 1, 4 high).
If the pair falls below 119.60 the outlook could start pointing to the downside. Support levels under 119.60 might lie at 119.35, 119.20 and 119.05 (May 7 high).