9 Apr 2015
USD/JPY consolidating above 120.00
FXStreet (Edinburgh) - The greenback keeps the upbeat tone vs. its Japanese rival on Thursday, with USD/JPY hovering over 120.20/25 so far.
USD/JPY bolstered by FOMC
The US dollar saw it demand renewed after the FOMC minutes showed some members advocating for a rates lift-off as soon as June, although the consensus preferred to hike rates later in the year.
On the Japanese side, the recent BoJ meeting and press conference by Governor Kuroda repeated the recent tone, leaving the policy unchanged and pointing that the inflation could hit the 2% target at some point during the 2015 FY.
USD/JPY levels to watch
As of writing the pair is advancing 0.09% at 120.25 with the initial hurdle at 120.45 (high Apr.7) ahead of 120.62 (61.8% of 122.04-118.33) and finally 121.20 (high Mar.20). On the other hand, a breakdown of 119.58 (Tenkan Sen) would open the door to 119.45 (low Apr.7) and then 118.92 (cloud top).
USD/JPY bolstered by FOMC
The US dollar saw it demand renewed after the FOMC minutes showed some members advocating for a rates lift-off as soon as June, although the consensus preferred to hike rates later in the year.
On the Japanese side, the recent BoJ meeting and press conference by Governor Kuroda repeated the recent tone, leaving the policy unchanged and pointing that the inflation could hit the 2% target at some point during the 2015 FY.
USD/JPY levels to watch
As of writing the pair is advancing 0.09% at 120.25 with the initial hurdle at 120.45 (high Apr.7) ahead of 120.62 (61.8% of 122.04-118.33) and finally 121.20 (high Mar.20). On the other hand, a breakdown of 119.58 (Tenkan Sen) would open the door to 119.45 (low Apr.7) and then 118.92 (cloud top).