9 Dec 2014
USD/JPY moving higher on a minor reversal
FXStreet (Guatemala) - USD/JPY is trading at 120.84, up 0.15% on the day, having posted a daily high at 120.87 and low at 120.50.
USD/JPY has giving the green light for bulls to back the bid again after a down start to the week. USD/JPY lost the 121 handle on a bout of supply that triggered events all the way through the handle into 120.20 territory before it caught a bounce on demand for cheap dollars. The major now heads on to test the 120.80 resistance already tested overnight. Beyond here brings back the 121 handle and key psychological resistance there.
USD/JPY noteworthy levels
With spot trading at 120.85, we can see next resistance ahead at 120.85 (Hourly 20 EMA), 120.87 (Daily High), 120.95 (Daily Classic PP),121.45 (Monthly High) and 121.45 (Weekly High). Support below can be found at 120.66 (Daily Open), 120.50 (Daily Low), 120.34 (Weekly Classic PP), 120.20 (Yesterday's Low) and 120.20 (Daily Classic S1).
USD/JPY has giving the green light for bulls to back the bid again after a down start to the week. USD/JPY lost the 121 handle on a bout of supply that triggered events all the way through the handle into 120.20 territory before it caught a bounce on demand for cheap dollars. The major now heads on to test the 120.80 resistance already tested overnight. Beyond here brings back the 121 handle and key psychological resistance there.
USD/JPY noteworthy levels
With spot trading at 120.85, we can see next resistance ahead at 120.85 (Hourly 20 EMA), 120.87 (Daily High), 120.95 (Daily Classic PP),121.45 (Monthly High) and 121.45 (Weekly High). Support below can be found at 120.66 (Daily Open), 120.50 (Daily Low), 120.34 (Weekly Classic PP), 120.20 (Yesterday's Low) and 120.20 (Daily Classic S1).