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8 Jan 2015
USD/JPY stabilizes below 120 handle
FXStreet (Mumbai) - The Japanese yen steadied against the US counterpart, extending losses for the second straight session as safe-haven demand for yen faded amid rebounding oil and stocks.
Currently, the USD/JPY pair traded at 119.79, up 0.47%, after having clocked intraday high at 119.97 levels, falling a hairline short of 120 mark. The US dollar remained boosted versus the yen ahead of today’s US unemployment claims data and Friday’s US nonfarm payrolls report for further indications on the strength of the recovery in the labour market which may push the pair higher.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120 levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119 levels, below that at 118.66 levels.
Currently, the USD/JPY pair traded at 119.79, up 0.47%, after having clocked intraday high at 119.97 levels, falling a hairline short of 120 mark. The US dollar remained boosted versus the yen ahead of today’s US unemployment claims data and Friday’s US nonfarm payrolls report for further indications on the strength of the recovery in the labour market which may push the pair higher.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120 levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 119 levels, below that at 118.66 levels.