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20 May 2015
USD/JPY climbs to fresh 2-month highs ahead of FOMC minutes
FXStreet (Córdoba) - USD/JPY broke above the 121.10 level and rose to fresh 2-month highs as the dollar picks up momentum ahead of the Federal Reserve meeting minutes.
USD/JPY is extending gains into a fourth day on Wednesday, having scored a 2-month peak of 121.38 in recent dealings in a quiet session ahead of the FOMC minute release. Markets will be searching for clues about the time the Fed plans to start hiking rates, with June virtually off the table following a series of weak Q1 data.
USD/JPY technical levels
At time of writing, USD/JPY is trading at 121.25, recording a 0.49% gain on the day. On the upside, immediate resistances are seen at 121.40 (Mar 17 high) and 121.56 (Mar 13 high). On the flip side, supports could be found at 120.58 (daily low) and 120.00 (psychological level).
USD/JPY is extending gains into a fourth day on Wednesday, having scored a 2-month peak of 121.38 in recent dealings in a quiet session ahead of the FOMC minute release. Markets will be searching for clues about the time the Fed plans to start hiking rates, with June virtually off the table following a series of weak Q1 data.
USD/JPY technical levels
At time of writing, USD/JPY is trading at 121.25, recording a 0.49% gain on the day. On the upside, immediate resistances are seen at 121.40 (Mar 17 high) and 121.56 (Mar 13 high). On the flip side, supports could be found at 120.58 (daily low) and 120.00 (psychological level).