5 Aug 2015
USD/JPY lacks momentum to break above 125.00
FXStreet (Córdoba) - USD/JPY rose sharply during the New York session underpinned by better-than-expected ISM PMIs, which offset disappointing ADP employment data published earlier and sent the pair to its highest level in two months.
USD/JPY bounced off lows and rallied roughly a full cent to peak at the 125 mark. However, the dollar lacked momentum to break above the 125.00 hurdle and pulled back slightly, having settled in a narrow range over the last hours. At time of writing, USD/JPY is trading at 124.83, recording a 0.37% gain on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could find next resistances at 125.00 (psychological level) and 125.67 (Jun 8 high) ahead of 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.00 (psychological level/Aug 5 low), 123.79 (Aug 4 low) and the 123.55/51 area (50-day SMA/Jul 31 low).
USD/JPY bounced off lows and rallied roughly a full cent to peak at the 125 mark. However, the dollar lacked momentum to break above the 125.00 hurdle and pulled back slightly, having settled in a narrow range over the last hours. At time of writing, USD/JPY is trading at 124.83, recording a 0.37% gain on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could find next resistances at 125.00 (psychological level) and 125.67 (Jun 8 high) ahead of 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.00 (psychological level/Aug 5 low), 123.79 (Aug 4 low) and the 123.55/51 area (50-day SMA/Jul 31 low).