18 May 2015
USD/JPY rises above 120.00
FXStreet (Córdoba) - USD/JPY pushed through the 120 mark and printed fresh highs for the day as the dollar received a mild boost during the American afternoon.
USD/JPY has climbed about 80 pips throughout the day and managed to erase Friday’s losses incurred on the back of another round of disappointing US indicators. At time of writing, USD/JPY is trading at 120.00, recording a 0.53% gain on Monday, having hit a peak of 120.02.
During the Asian session, weaker-than-expected Japanese industrial production data weighed on the yen. Now attention turns to Wednesday’s FOMC minutes and Friday’s US consumer price index data as investors continue to assess prospects of a Fed rate hike.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen 120. and 120.27 (May 12 high). On the other hand, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).
USD/JPY has climbed about 80 pips throughout the day and managed to erase Friday’s losses incurred on the back of another round of disappointing US indicators. At time of writing, USD/JPY is trading at 120.00, recording a 0.53% gain on Monday, having hit a peak of 120.02.
During the Asian session, weaker-than-expected Japanese industrial production data weighed on the yen. Now attention turns to Wednesday’s FOMC minutes and Friday’s US consumer price index data as investors continue to assess prospects of a Fed rate hike.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen 120. and 120.27 (May 12 high). On the other hand, supports could be found at 119.30 (100-day SMA), 119.13 (May 15 low) and 118.88 (May 14 low).