3 Dec 2014
USD/JPY firmer towards 119.50
FXStreet (Edinburgh) - The Japanese yen keeps depreciating vs. its American counterpart on Wednesday, pushing USD/JPY to fresh multi-year tops near 119.50.
USD/JPY looks to US Payrolls
The greenback remains unstoppable so far, badly hurting the risk-associated universe and extending the pair’s ascent to the mid-119.00s. The next significant release for the pair will be November’s US Payrolls, with consensus expecting the economy to have created 232K jobs. Looking further ahead, investors will start shifting their attention to the mid-December elections in Japan, with the current performance and future of ‘Abenomics’ in the centre of the debate.
USD/JPY relevant levels
As of writing the pair is up 0.16% at 119.43 and a breakout of 119.48 (2014 high Dec.3) ahead of 119.77 (high Aug.9 2007) and then 119.84 (high Aug.8 2007). On the flip side, the immediate support aligns at 119.13 (low Dec.3) ahead of 118.38 (low Dec.2) and finally 117.86 (low Dec.1).
USD/JPY looks to US Payrolls
The greenback remains unstoppable so far, badly hurting the risk-associated universe and extending the pair’s ascent to the mid-119.00s. The next significant release for the pair will be November’s US Payrolls, with consensus expecting the economy to have created 232K jobs. Looking further ahead, investors will start shifting their attention to the mid-December elections in Japan, with the current performance and future of ‘Abenomics’ in the centre of the debate.
USD/JPY relevant levels
As of writing the pair is up 0.16% at 119.43 and a breakout of 119.48 (2014 high Dec.3) ahead of 119.77 (high Aug.9 2007) and then 119.84 (high Aug.8 2007). On the flip side, the immediate support aligns at 119.13 (low Dec.3) ahead of 118.38 (low Dec.2) and finally 117.86 (low Dec.1).