30 Jul 2015
USD/JPY in highs around 124.30
FXStreet (Edinburgh) - The greenback continues to push higher on Thursday, now lifting USD/JPY to session lows in the 124.30/35 band.
USD/JPY attention to US docket
The pair is extending yesterday’s upbeat momentum following the FOMC statement, looking to consolidate the recent break above the 124.00 handle. The pair has found decent support in the 123.00 area on Monday, managing to regain ground since then along with a better tone in the US dollar.
Next of relevance in the pair will be the first estimate of the US GDP during the second quarter, with the economy expected to have expanded at an annual rate of 2.6% between April and June. In the Japanese calendar, critical inflation figures are also due tomorrow.
USD/JPY relevant levels
At the moment the pair is advancing 0.30% at 124.31 facing the next hurdle at 124.47 (high Jul.21) followed by 124.58 (high Jun.10) and then 125.05 (high Jun.1). On the other hand, a breakdown of 123.40 (low Jul.29) would open the door to 123.01 (low Jul.27) and finally 122.50 (low Jul.14).
USD/JPY attention to US docket
The pair is extending yesterday’s upbeat momentum following the FOMC statement, looking to consolidate the recent break above the 124.00 handle. The pair has found decent support in the 123.00 area on Monday, managing to regain ground since then along with a better tone in the US dollar.
Next of relevance in the pair will be the first estimate of the US GDP during the second quarter, with the economy expected to have expanded at an annual rate of 2.6% between April and June. In the Japanese calendar, critical inflation figures are also due tomorrow.
USD/JPY relevant levels
At the moment the pair is advancing 0.30% at 124.31 facing the next hurdle at 124.47 (high Jul.21) followed by 124.58 (high Jun.10) and then 125.05 (high Jun.1). On the other hand, a breakdown of 123.40 (low Jul.29) would open the door to 123.01 (low Jul.27) and finally 122.50 (low Jul.14).