25 Aug 2015
USD/JPY deflates to 119.70
FXStreet (Edinburgh) - The dollar keeps the solid tone vs. its Japanese counterpart on Tuesday, with USD/JPY now meandering around the 119.70 area.
USD/JPY capped by 120.50
The upside momentum in the pair remains well and sound on Tuesday, although the area beyond 120.50 still remains elusive for USD-bulls, prompting the current rejection to the mid-119.00s. Solid performance of US yields IS also bolstering today’s recovery in USD, and giving further support to the pair.
Without data releases or events in Japan, the US docket showed results below expectations from the S&P/Case-Shiller index, Markit’s Services PMI and New Home Sales, while Consumer Confidence surprised to the upside.
USD/JPY levels to consider
At the moment the pair is up 1.06 % at 119.70 with the next hurdle at 120.41 (high Aug.25) followed by 121.27 (high Aug.24) and finally 123.11 (high Aug.21). On the flip side, a breakdown of 118.88 (low Aug.25) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).
USD/JPY capped by 120.50
The upside momentum in the pair remains well and sound on Tuesday, although the area beyond 120.50 still remains elusive for USD-bulls, prompting the current rejection to the mid-119.00s. Solid performance of US yields IS also bolstering today’s recovery in USD, and giving further support to the pair.
Without data releases or events in Japan, the US docket showed results below expectations from the S&P/Case-Shiller index, Markit’s Services PMI and New Home Sales, while Consumer Confidence surprised to the upside.
USD/JPY levels to consider
At the moment the pair is up 1.06 % at 119.70 with the next hurdle at 120.41 (high Aug.25) followed by 121.27 (high Aug.24) and finally 123.11 (high Aug.21). On the flip side, a breakdown of 118.88 (low Aug.25) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).