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1 Apr 2015
USD/JPY extends beyond 120
FXStreet (Mumbai) - USD/JPY pierced through the 120 handle and stormed its way higher in the European session, as the US dollar regained its lost ground and resumed its uptrend ahead of key US data later this session.
USD/JPY capped by 20-DMA
Currently, the USD/JPY trades higher by 0.09% at 120.25 levels, having posted fresh session high at 120.33 and day’s low at 119.42. USD/JPY turned positive as the USD buls jumped back in to the bids continuing its upward trajectory, riding higher on the wave of recent upbeat US fundamentals boosting the US dollar.
USD/JPY edged higher in anticipation of yet another solid data release later in the US session. The ADP employment report is due, with 225,000 job gains forecast, above last month's 212,000 print. Moreover, the US ISM Manufacturing report is on the agenda and should tick lower to 52.5 from 52.9.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.38 (March 31 High) levels and above which it could extend gains 121 levels. To the downside immediate support might be located at 119.24 (100-DMA), below that at 119 levels.
USD/JPY capped by 20-DMA
Currently, the USD/JPY trades higher by 0.09% at 120.25 levels, having posted fresh session high at 120.33 and day’s low at 119.42. USD/JPY turned positive as the USD buls jumped back in to the bids continuing its upward trajectory, riding higher on the wave of recent upbeat US fundamentals boosting the US dollar.
USD/JPY edged higher in anticipation of yet another solid data release later in the US session. The ADP employment report is due, with 225,000 job gains forecast, above last month's 212,000 print. Moreover, the US ISM Manufacturing report is on the agenda and should tick lower to 52.5 from 52.9.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.38 (March 31 High) levels and above which it could extend gains 121 levels. To the downside immediate support might be located at 119.24 (100-DMA), below that at 119 levels.