6 Mar 2015
Say hello! USD/JPY at 121.00
FXStreet (San Francisco) - The USD/JPY is completing a 125-pips escalation from 119.75 to break above 120.50 and to trade at 121.00, new 2015 high. The move was driven by the upbeat US employment report.
Currently, USD/JPY is trading at 120.91, up 0.64% on the day, having posted a daily high at 120.99 and low at 119.90. According to FXStreet chief analyst Valeria Bednarik, "the 1 hour chart shows that the price holds near the highs, with a strong bounce from the broken trend line acting as a magnet for buyers, and indicators still heading north in extreme overbought levels."
USD/JPY levels
If the pair manages to break above 121.00, it will find next resistances at 121.45 and 121.85. Supports are at 120.50, 120.20 and 120.00.
Currently, USD/JPY is trading at 120.91, up 0.64% on the day, having posted a daily high at 120.99 and low at 119.90. According to FXStreet chief analyst Valeria Bednarik, "the 1 hour chart shows that the price holds near the highs, with a strong bounce from the broken trend line acting as a magnet for buyers, and indicators still heading north in extreme overbought levels."
USD/JPY levels
If the pair manages to break above 121.00, it will find next resistances at 121.45 and 121.85. Supports are at 120.50, 120.20 and 120.00.