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22 Apr 2015
USD/JPY consolidates below 120.00
FXStreet (Córdoba) - USD/JPY extended gains to fresh 8-day highs as the dollar picked up momentum across the board following upbeat US housing data, although it faltered a few pips shy of the 120.00 level.
USD/JPY erased early losses and reached a peak of 119.95 after climbing more than half a cent from daily lows. However, the pair lacked momentum to clear the psychological level and settled just below. At time of writing, USD/JPY is trading at 119.85, recording a 0.17% gain on the day.
USD/JPY technical levels
On the upside, if USD/JPY breaks decisively above 119.95/120.00, next resistances are seen at 120.16 (Apr 14 high) and 120.83 (Apr 13 high). On the flip side, supports could be found at 119.34/28 (daily low/100-day SMA), 119.15 (Apr 21 low) and 119.00 (psychological level).
USD/JPY erased early losses and reached a peak of 119.95 after climbing more than half a cent from daily lows. However, the pair lacked momentum to clear the psychological level and settled just below. At time of writing, USD/JPY is trading at 119.85, recording a 0.17% gain on the day.
USD/JPY technical levels
On the upside, if USD/JPY breaks decisively above 119.95/120.00, next resistances are seen at 120.16 (Apr 14 high) and 120.83 (Apr 13 high). On the flip side, supports could be found at 119.34/28 (daily low/100-day SMA), 119.15 (Apr 21 low) and 119.00 (psychological level).