18 May 2015
USD/JPY consolidates near daily highs
FXStreet (Córdoba) - The dollar managed to advance versus major competitors on Monday and is trading at the upper-119 zone versus the yen, recovering the ground lost following another round of weak US data released last week.
USD/JPY managed to rise more than half a cent throughout the day but found resistance at 119.76 and settled in a range over the last hours. At time of writing, the pair is trading at 119.65, still up 0.25% on the day.
Attention turns to US inflation data which will be released on Friday. A surge in inflation numbers could fuel expectations of a Fed lift-off sooner than later.
USD/JPY technical levels
As for technical levels, immediate resistances are seen 119.76 (daily high), 119.92 (May 15 high) and 120.27 (May 12 high). On the flip side, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).
USD/JPY managed to rise more than half a cent throughout the day but found resistance at 119.76 and settled in a range over the last hours. At time of writing, the pair is trading at 119.65, still up 0.25% on the day.
Attention turns to US inflation data which will be released on Friday. A surge in inflation numbers could fuel expectations of a Fed lift-off sooner than later.
USD/JPY technical levels
As for technical levels, immediate resistances are seen 119.76 (daily high), 119.92 (May 15 high) and 120.27 (May 12 high). On the flip side, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).