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20 Apr 2015
USD/JPY hits fresh highs above 119
FXStreet (Mumbai) - The US dollar erased previous losses and turned positive versus the yen in the mid- European session, with USD/JPY reaching fresh session highs beyond 119 barrier, as the US dollar continues to outperform across the board heading in to a data-dry North American session.
USD/JPY rises on USD strength
Currently, the USD/JPY pair trades modestly flat at fresh session highs of 119 levels, bouncing off key support at 118.50. The USD/JPY pair climbed further as the greenback remains boost versus its major peers following Friday’s upbeat US consumer sentiment data.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped near fresh session highs at 98.04, up 0.41% on the day.
Moreover, the USD/JPY pair failed to breach the 118.50 strong support zone and rebounded sharply above 119 handle, also driven a technical buying witnessed around that support.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.29 (100-DMA) levels and above which it could extend gains 119.76 (April 15 High) levels. To the downside immediate support might be located at 118.50 below that at 118.30 (March 26 Low) levels.
USD/JPY rises on USD strength
Currently, the USD/JPY pair trades modestly flat at fresh session highs of 119 levels, bouncing off key support at 118.50. The USD/JPY pair climbed further as the greenback remains boost versus its major peers following Friday’s upbeat US consumer sentiment data.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped near fresh session highs at 98.04, up 0.41% on the day.
Moreover, the USD/JPY pair failed to breach the 118.50 strong support zone and rebounded sharply above 119 handle, also driven a technical buying witnessed around that support.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.29 (100-DMA) levels and above which it could extend gains 119.76 (April 15 High) levels. To the downside immediate support might be located at 118.50 below that at 118.30 (March 26 Low) levels.