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13 Mar 2015
USD/JPY sidelined around 121.40
FXStreet (Edinburgh) - The greenback is posting decent gains vs. its Japanese counterpart on Friday, driving USD/JPY to the area of 121.30/40 so far.
USD/JPY consolidates above 121.00
Spot seems to be consolidating the correction lower from recent multi-year peaks just above the 122.00 handle, with the upper-120s and lower-121s offering quite decent buffer for occasional drops.
In the data front, Japanese Industrial Production contracted 2.8% on a year to January, reverting the previous 1.0% advance. Next on tap in the US calendar will be the Producer Prices followed by the more relevant Reuters/Michigan index.
USD/JPY key levels
As of writing the pair is up 0.12% at 121.43 with the next up-barrier at 121.67 (high Mar.12) ahead of 122.04 (2015 high Mar.10) and then 123.00 (psychological level). On the downside, a breach of 120.66 (low Mar.12) would expose 120.62 (low Mar.9) and finally 119.90 (low Mar.6).
USD/JPY consolidates above 121.00
Spot seems to be consolidating the correction lower from recent multi-year peaks just above the 122.00 handle, with the upper-120s and lower-121s offering quite decent buffer for occasional drops.
In the data front, Japanese Industrial Production contracted 2.8% on a year to January, reverting the previous 1.0% advance. Next on tap in the US calendar will be the Producer Prices followed by the more relevant Reuters/Michigan index.
USD/JPY key levels
As of writing the pair is up 0.12% at 121.43 with the next up-barrier at 121.67 (high Mar.12) ahead of 122.04 (2015 high Mar.10) and then 123.00 (psychological level). On the downside, a breach of 120.66 (low Mar.12) would expose 120.62 (low Mar.9) and finally 119.90 (low Mar.6).