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7 Jan 2015
USD/JPY oscillates around 119.00
FXStreet (Córdoba) - USD/JPY recovered from a 3-week low struck yesterday, although it was capped by the 50-hour SMA at 119.25, leaving the more important 119.85 resistance area out of reach.
The pair has entered a consolidation phase over the last hours as it attempts, unsuccessfully, to consolidate above 119.00 as investors await the FOMC minutes later during the American session. At time of writing, USD/JPY is trading at 118.85, recording a 0.39% gain on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.25 (daily high) and 119.85 (10-day SMA) ahead of 120.00 (psychological level). On the other hand, supports are seen at 118.37 (daily low) and 118.06 (Jan 6 low).
The pair has entered a consolidation phase over the last hours as it attempts, unsuccessfully, to consolidate above 119.00 as investors await the FOMC minutes later during the American session. At time of writing, USD/JPY is trading at 118.85, recording a 0.39% gain on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.25 (daily high) and 119.85 (10-day SMA) ahead of 120.00 (psychological level). On the other hand, supports are seen at 118.37 (daily low) and 118.06 (Jan 6 low).