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13 Apr 2015
USD/JPY side-lined near 120.20
FXStreet (Edinburgh) - After hitting fresh session peaks around 120.80, the US dollar lost momentum and sent USD/JPY to the current 120.20 band.
USD/JPY bounced off 119.70
The Japanese yen gained traction today following the appreciations by K.Hamada, who stressed that, according to purchasing parity, an exchange rate at 105.00 could be more comfortable. The buying interest around the yen picked up pace soon after the comments, although it could not push further than the upper-119.00s.
Ahead in the week, US Retail Sales are due tomorrow and Japanese Industrial Production and Capacity Utilization are due on Wednesday.
USD/JPY important levels
The pair is now advancing 0.01% at 120.20 with the immediate hurdle at 121.00 (psychological level) ahead of 121.16 (76.4% of 122.04 -118.33) and finally 121.20 (high Mar.20). On the downside, a breach of 120.10 (low Apr.13) would open the door to 120.05 (low Apr.10) and then 119.73 (Tenkan Sen).
USD/JPY bounced off 119.70
The Japanese yen gained traction today following the appreciations by K.Hamada, who stressed that, according to purchasing parity, an exchange rate at 105.00 could be more comfortable. The buying interest around the yen picked up pace soon after the comments, although it could not push further than the upper-119.00s.
Ahead in the week, US Retail Sales are due tomorrow and Japanese Industrial Production and Capacity Utilization are due on Wednesday.
USD/JPY important levels
The pair is now advancing 0.01% at 120.20 with the immediate hurdle at 121.00 (psychological level) ahead of 121.16 (76.4% of 122.04 -118.33) and finally 121.20 (high Mar.20). On the downside, a breach of 120.10 (low Apr.13) would open the door to 120.05 (low Apr.10) and then 119.73 (Tenkan Sen).