9 Mar 2015
USD/JPY attempts to break the 121.00 again; bias is bullish
FXStreet (Tokyo) - After testing it several times in today's session, the USD/JPY is attempting to break the 121.00 area again. Previously in the day, the pair was rejected at this level and launched back to the 120.60 support.
Currently, USD/JPY is trading at 121.03, up 0.29% on the day, having posted a daily high at 121.15 and low at 120.61. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral.
USD/JPY forecast
Market players expect a higher USD/JPY as "the dollar is finally gaining also against the yen," as Forexcrunch Analyst Yohay Elam comments in the USD/JPY forecast poll. "It could further advance," he concludes.
For Richard Perry from Hantec Markets, "the breakout above 120.50 on the Payrolls report puts the bulls back in control for a test of the December high at 121.80."
Dollar to Yen exchange rate technical levels
If the pair consolidates levels above 121.00, it will find next resistances at 121.20 and 121.80. To the downside, supports are at 120.80, 120.60 and 120.40.
Currently, USD/JPY is trading at 121.03, up 0.29% on the day, having posted a daily high at 121.15 and low at 120.61. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral.
USD/JPY forecast
Market players expect a higher USD/JPY as "the dollar is finally gaining also against the yen," as Forexcrunch Analyst Yohay Elam comments in the USD/JPY forecast poll. "It could further advance," he concludes.
For Richard Perry from Hantec Markets, "the breakout above 120.50 on the Payrolls report puts the bulls back in control for a test of the December high at 121.80."
Dollar to Yen exchange rate technical levels
If the pair consolidates levels above 121.00, it will find next resistances at 121.20 and 121.80. To the downside, supports are at 120.80, 120.60 and 120.40.