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13 Mar 2015
USD/JPY capped by 122.00
FXStreet (Edinburgh) - The US dollar is trading almost unchanged at the end of the week vs. the Japanese yen, with USD/JPY still unable to surpass the 122.00 handle so far.
USD/JPY in multi-week peaks
The pair is advancing for the fourth consecutive week so far, finding decent support around the 118.00 handle in mid-February and pushing higher since then. Market expectations for a hawkish tone in the FOMC meeting next week and a potential lift off for rates in June has been bolstering the USD upside despite the poor US releases as of late.
USD/JPY key levels
As of writing the pair is up 0.01% at 121.28 with the next up-barrier at 121.67 (high Mar.12) ahead of 122.04 (2015 high Mar.10) and then 123.00 (psychological level). On the downside, a breach of 120.66 (low Mar.12) would expose 120.62 (low Mar.9) and finally 119.90 (low Mar.6).
USD/JPY in multi-week peaks
The pair is advancing for the fourth consecutive week so far, finding decent support around the 118.00 handle in mid-February and pushing higher since then. Market expectations for a hawkish tone in the FOMC meeting next week and a potential lift off for rates in June has been bolstering the USD upside despite the poor US releases as of late.
USD/JPY key levels
As of writing the pair is up 0.01% at 121.28 with the next up-barrier at 121.67 (high Mar.12) ahead of 122.04 (2015 high Mar.10) and then 123.00 (psychological level). On the downside, a breach of 120.66 (low Mar.12) would expose 120.62 (low Mar.9) and finally 119.90 (low Mar.6).