4 Aug 2015
USD/JPY boosted by Fed’s Lockhart comments on rates
FXStreet (Córdoba) - USD/JPY printed a fresh daily high during the American session at 124.26 and remained with a bullish tone as the US dollar rallied in the market.
Greenback rose sharply during the last hours across the board after Federal Reserve Bank of Atlanta President, Dennis Lockhart, mentioned that the economy is ready for the liftoff. He said: “It will take a significant deterioration in the economic picture for me to be disinclined to move ahead”.
USD/JPY testing Monday’s highs
The pair tested Monday highs and it was trading around 124.20; if it’s able to rise above, the next resistance to be challenged is the 124.50 area that capped the upside during July. Greenback needs to consolidate above 124.50 to gain support to rally further.
To the downed, the 123.75/85 area continues to offer limited the downside.
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Greenback rose sharply during the last hours across the board after Federal Reserve Bank of Atlanta President, Dennis Lockhart, mentioned that the economy is ready for the liftoff. He said: “It will take a significant deterioration in the economic picture for me to be disinclined to move ahead”.
USD/JPY testing Monday’s highs
The pair tested Monday highs and it was trading around 124.20; if it’s able to rise above, the next resistance to be challenged is the 124.50 area that capped the upside during July. Greenback needs to consolidate above 124.50 to gain support to rally further.
To the downed, the 123.75/85 area continues to offer limited the downside.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!