11 Feb 2015
USD/JPY hits fresh one-month high
FXStreet (Mumbai) - The USD/JPY extended gains to hit a fresh one-month high of 119.71 levels ahead of the emergency Eurogroup meeting scheduled later in the day.
Yen continues to slide
The Japanese Yen continues to slide despite the tensions over the Greek debt issue and escalating violence in Ukraine. Moreover, the rise in the 10-year Treasury yields in the US has halted around 2.00%, despite which the USD/JPY rose to fresh one-month highs. The pair also lacked fresh cues from the Japanese markets, which were closed on account of a trading holiday.
USD/JPY Technical Levels
The immediate resistance is seen at 120.00 levels, above which gains could be extended to 120.72 (Jan. 2nd high). Meanwhile, support is seen at 119.10 (5-DMA) and 118.70 (50-DMA) levels.
Yen continues to slide
The Japanese Yen continues to slide despite the tensions over the Greek debt issue and escalating violence in Ukraine. Moreover, the rise in the 10-year Treasury yields in the US has halted around 2.00%, despite which the USD/JPY rose to fresh one-month highs. The pair also lacked fresh cues from the Japanese markets, which were closed on account of a trading holiday.
USD/JPY Technical Levels
The immediate resistance is seen at 120.00 levels, above which gains could be extended to 120.72 (Jan. 2nd high). Meanwhile, support is seen at 119.10 (5-DMA) and 118.70 (50-DMA) levels.