20 Jan 2015
USD/JPY reaches 1-week highs
FXStreet (Córdoba) - USD/JPY pushed higher and reached a fresh 1-week high at the beginning of the American session as the yen extends losses across the board amid better risk sentiment and some hopes for fresh Bank of Japan action tomorrow.
USD/JPY broke above the 118.55 resistance area and stretched to a weekly peak of 118.75 before losing momentum. At time of writing, the pair is trading at 118.65, recording a 0.94% gain on the day.
USD/JPY technical levels
In terms of technical levels, if USD/JPY breaks above 118.75, next resistances could be found at 119.00 (psychological level) and 119.30 (Jan 12 high). On the flip side, supports are seen at 117.95 (200-hour SMA), 117.54 (daily low) and 117.00 (psychological level).
USD/JPY broke above the 118.55 resistance area and stretched to a weekly peak of 118.75 before losing momentum. At time of writing, the pair is trading at 118.65, recording a 0.94% gain on the day.
USD/JPY technical levels
In terms of technical levels, if USD/JPY breaks above 118.75, next resistances could be found at 119.00 (psychological level) and 119.30 (Jan 12 high). On the flip side, supports are seen at 117.95 (200-hour SMA), 117.54 (daily low) and 117.00 (psychological level).