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3 Mar 2014
USD/JPY rises back to 101.50
FXStreet (Córdoba) - The USD/JPY edged a tad higher following the release of a better-than-expected US manufacturing PMI, although moves remain shy amid cautious given the Ukraine/Russia war threat.
After finding support at a 1-month low of 101.19, the USD/JPY managed to trim daily losses and climbed to the 101.50 zone on better-than-expected US manufacturing PMI, which rose to 57.1 versus 56.6 expected in February.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks decisively above 101.50 next resistances are seen at 101.65 (Mar 3 high) and 102.00 (psychological level). On the downside, supports could be found at 101.19 (Mar 3 low), 101.00 (psychological level) and 100.80 (Feb 5 low).
After finding support at a 1-month low of 101.19, the USD/JPY managed to trim daily losses and climbed to the 101.50 zone on better-than-expected US manufacturing PMI, which rose to 57.1 versus 56.6 expected in February.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks decisively above 101.50 next resistances are seen at 101.65 (Mar 3 high) and 102.00 (psychological level). On the downside, supports could be found at 101.19 (Mar 3 low), 101.00 (psychological level) and 100.80 (Feb 5 low).