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16 Sep 2015
USD/JPY manages to post fresh daily highs
FXStreet (Córdoba) - Despite broad dollar weakness, USD/JPY has managed to climb to fresh daily highs during the American afternoon extending gains into a second day.
Following a short-lived pullback following the release of softer than expected US CPI figures, USD/JPY managed to regain the upside and climbed to a fresh daily high of 120.72 in recent dealings. At time of writing, the pair is trading at 120.55, up 0.12% on the day.
All attention remain on the Federal Reserve policy meeting that concludes tomorrow, with analysts still split on whether the Fed is going to raise rates for first time in nearly a decade.
USD/JPY key levels
As for technical levels, immediate resistances could be found at 120.72 (Sep 16 high), 120.80/83 (200-day SMA/ Sep 14 high) and 120.95 (Sep 11 high). On the downside, supports are seen at 120.10/08 (Sep 16 low/10-day SMA), 119.84 (Sep 14 low) and 119.39 (Sep 15 low).
Following a short-lived pullback following the release of softer than expected US CPI figures, USD/JPY managed to regain the upside and climbed to a fresh daily high of 120.72 in recent dealings. At time of writing, the pair is trading at 120.55, up 0.12% on the day.
All attention remain on the Federal Reserve policy meeting that concludes tomorrow, with analysts still split on whether the Fed is going to raise rates for first time in nearly a decade.
USD/JPY key levels
As for technical levels, immediate resistances could be found at 120.72 (Sep 16 high), 120.80/83 (200-day SMA/ Sep 14 high) and 120.95 (Sep 11 high). On the downside, supports are seen at 120.10/08 (Sep 16 low/10-day SMA), 119.84 (Sep 14 low) and 119.39 (Sep 15 low).