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10 Apr 2015
USD/JPY sidelined around 120.50
FXStreet (Mumbai) - USD/JPY continues to trade around a flat line in Asia, consolidating heavy gains from the previous session after the US dollar was boosted by better than estimates US employment data.
USD/JPY supported above 5-DMA
Currently, the USD/JPY pair flat at 120.54 levels, moving slightly away from fresh three week highs reached at 120.76 in the previous session. The USD/JPY pair forms a doji candle on daily charts and trades lack lustre in absence of a clear direction amid a data-thin US calendar today.
Meanwhile, USD/JPY erased previous gains as traders resorted to profit-taking on their USD longs after the recent strength following upbeat US jobs data while FOMC minutes continued to support the greenback. The US dollar index also moved away from session highs at 99.24 levels and retraced to 99.09, almost unchanged on the day.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.63 (Today’s High) levels and above which it could extend gains 121 levels. To the downside immediate support might be located at 120.22 (5-DMA) below that at 120 levels.
USD/JPY supported above 5-DMA
Currently, the USD/JPY pair flat at 120.54 levels, moving slightly away from fresh three week highs reached at 120.76 in the previous session. The USD/JPY pair forms a doji candle on daily charts and trades lack lustre in absence of a clear direction amid a data-thin US calendar today.
Meanwhile, USD/JPY erased previous gains as traders resorted to profit-taking on their USD longs after the recent strength following upbeat US jobs data while FOMC minutes continued to support the greenback. The US dollar index also moved away from session highs at 99.24 levels and retraced to 99.09, almost unchanged on the day.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.63 (Today’s High) levels and above which it could extend gains 121 levels. To the downside immediate support might be located at 120.22 (5-DMA) below that at 120 levels.