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2 Dec 2014
USD/JPY buoyant above 119.00
FXStreet (Edinburgh) - The greenback remains unabated on Tuesday, with USD/JPY consolidating beyond 119.00 the figure.
USD/JPY in 2014 highs
Spot manages to keep the trade above the 119.00 handle, levels last seen in July/August 2007, as the US dollar extends its relentless march north. Moving forward to Wednesday’s docket, there are no scheduled releases in Japan, whereas the ADP report, ISM Non Manufacturing and the Fed’s Beige Book will take centre stage in the US economy. “Above 119.15 lies the January and October 2006 highs at 119.40/88 and also the psychological 120.00 region and a move to here cannot be ruled out”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
USD/JPY significant levels
At the moment the pair is advancing 0.70% at 119.16 with the next resistance at 119.77 (high Aug.9 2007) followed by 119.84 (high Aug.8 2007) and then 120.00 (psychological level). On the flip side, a breakdown of 118.26 (Tenkan Sen) would aim for 118.23 (low Dec.2) and finally 117.86 (low Dec.1).
USD/JPY in 2014 highs
Spot manages to keep the trade above the 119.00 handle, levels last seen in July/August 2007, as the US dollar extends its relentless march north. Moving forward to Wednesday’s docket, there are no scheduled releases in Japan, whereas the ADP report, ISM Non Manufacturing and the Fed’s Beige Book will take centre stage in the US economy. “Above 119.15 lies the January and October 2006 highs at 119.40/88 and also the psychological 120.00 region and a move to here cannot be ruled out”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
USD/JPY significant levels
At the moment the pair is advancing 0.70% at 119.16 with the next resistance at 119.77 (high Aug.9 2007) followed by 119.84 (high Aug.8 2007) and then 120.00 (psychological level). On the flip side, a breakdown of 118.26 (Tenkan Sen) would aim for 118.23 (low Dec.2) and finally 117.86 (low Dec.1).