11 Feb 2015
USD/JPY breaks above 120.00
FXStreet (Córdoba) - USD/JPY picked up momentum and pierced the 120 mark at the beginning of the New York session, supported by stocks and yields.
USD/JPY broke above the 120.00 level and climbed to 120.17, its highest level in over a month, before easing slightly. At time of writing, the pair is trading at 120.15, recording a % gain on the day.
USD/JPY technical outlook
Valeria Bednarik, chief analyst at FXStreet noted recently that while the pair holds a bullish bias in short-term charts, “a break above the critical 120.00 level would open doors for a retest of December high at 121.84”.
USD/JPY broke above the 120.00 level and climbed to 120.17, its highest level in over a month, before easing slightly. At time of writing, the pair is trading at 120.15, recording a % gain on the day.
USD/JPY technical outlook
Valeria Bednarik, chief analyst at FXStreet noted recently that while the pair holds a bullish bias in short-term charts, “a break above the critical 120.00 level would open doors for a retest of December high at 121.84”.