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27 Jan 2015
USD/JPY climbs toward 118.00
FXStreet (Córdoba) - Greenback recovered strength during the American session and pushed USD/JPY toward 118.00. Earlier bottomed at 117.32, but then rebounded. Currently trades at 117.90, down 0.44% for the day.
Despite falling today, the USD/JPY pair continues to trade in a range between 117.20 and 119.00 since last Tuesday. On a wider perspective, the yen is rising against the US dollar on January, headed toward the first monthly gain since June 2014.
“The USD/JPY has entered its correction phase from the 121.00 target, as we expected and suggested to use pullbacks to the 115.00 and potentially 112.31 support levels to re-load longs for 124.00 target,” noted the Dmytro Bondar, Technical Analyst at RBS.
Despite falling today, the USD/JPY pair continues to trade in a range between 117.20 and 119.00 since last Tuesday. On a wider perspective, the yen is rising against the US dollar on January, headed toward the first monthly gain since June 2014.
“The USD/JPY has entered its correction phase from the 121.00 target, as we expected and suggested to use pullbacks to the 115.00 and potentially 112.31 support levels to re-load longs for 124.00 target,” noted the Dmytro Bondar, Technical Analyst at RBS.