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31 Mar 2015
USD/JPY sidelined around 120.00
FXStreet (Edinburgh) - The greenback is alternating gains and losses vs. its Japanese counterpart on Tuesday, with USD/JPY now gyrating around the 120.00 area.
USD/JPY bounces off 119.00
The pair is now looking to consolidate the recent breakout of the 120.00 handle, after bottoming out in the vicinity of 119.00 the figure. The favourable sentiment towards the US dollar has been bolstering the recent upside, helping spot to revert the drop from March peaks just above 122.00.
In the data front, Japanese Housing Starts increased at a yearly pace of 905K during February vs. January’s 864K, contracting less than expected 3.1%. Next of relevance will be the critical Tankan indicator, due early in the Asian session.
USD/JPY levels to consider
At the moment the pair is up 0.03% at 120.11 with the next resistance at 120.37 (high Mar.31) ahead of 121.00 (psychological level) and then 121.20 (high Mar.20). On the flip side, a breach of 119.77 (Tenkan Sen) would open the door to 119.11 (low Mar.30) and finally 119.00 (psychological level).
USD/JPY bounces off 119.00
The pair is now looking to consolidate the recent breakout of the 120.00 handle, after bottoming out in the vicinity of 119.00 the figure. The favourable sentiment towards the US dollar has been bolstering the recent upside, helping spot to revert the drop from March peaks just above 122.00.
In the data front, Japanese Housing Starts increased at a yearly pace of 905K during February vs. January’s 864K, contracting less than expected 3.1%. Next of relevance will be the critical Tankan indicator, due early in the Asian session.
USD/JPY levels to consider
At the moment the pair is up 0.03% at 120.11 with the next resistance at 120.37 (high Mar.31) ahead of 121.00 (psychological level) and then 121.20 (high Mar.20). On the flip side, a breach of 119.77 (Tenkan Sen) would open the door to 119.11 (low Mar.30) and finally 119.00 (psychological level).