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19 Mar 2015
USD/JPY finds resistance at 121.00
FXStreet (Córdoba) - The USD/JPY pair extended gains and printed a fresh daily high at 121.00 after the release of jobless claims and current account data in the US. The 121.00 zone capped the upside and pushed the back toward 120.50.
After Wall Street opening bell the pair retreated and dropped to 120.69. Currently trades at 120.75, up 0.55% for the day, trading slightly below the level it had before the decision of the Federal Reserve.
Greenback regained much of the lost ground on Thursday but lost strength during the last hour, limiting the upside in the USD/JPY pair. The US dollar is rising across the board on Thursday; but the yen is among the best performers.
USD/JPY technical levels
To the upside, the immediate resistance lies at 121.00 (daily high) and above here at 121.40 followed by March highs located at 122.00. On the opposite direction support might lie at 120.30 (intraday level), 120.00, 119.65 and 119.30 (Mar 18 low).
After Wall Street opening bell the pair retreated and dropped to 120.69. Currently trades at 120.75, up 0.55% for the day, trading slightly below the level it had before the decision of the Federal Reserve.
Greenback regained much of the lost ground on Thursday but lost strength during the last hour, limiting the upside in the USD/JPY pair. The US dollar is rising across the board on Thursday; but the yen is among the best performers.
USD/JPY technical levels
To the upside, the immediate resistance lies at 121.00 (daily high) and above here at 121.40 followed by March highs located at 122.00. On the opposite direction support might lie at 120.30 (intraday level), 120.00, 119.65 and 119.30 (Mar 18 low).