29 Jan 2015
The 118.50 seems too hard for the USD/JPY
FXStreet (San Francisco) - The USD/JPY found a strong resistance at 118.50 after the pair recovered 70 pips from 117.80 to find selling interest at this level.
Currently, USD/JPY is trading at 118.41, up 0.80% on the day, having posted a daily high at 118.50 and low at 117.37. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/JPY levels
If the pair finally breaks above 118.50, it will find next resistances at 118.65 and 118.85. To the downside, supports are at 118.20, 118.00 and 117.80.
Currently, USD/JPY is trading at 118.41, up 0.80% on the day, having posted a daily high at 118.50 and low at 117.37. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/JPY levels
If the pair finally breaks above 118.50, it will find next resistances at 118.65 and 118.85. To the downside, supports are at 118.20, 118.00 and 117.80.