22 Dec 2014
USD/JPY hits fresh daily high
FXStreet (Mumbai) - The Japanese yen weakened against the US dollar following the release of Bank of Japan’s (BOJ) Monthly Report of Recent Economic and Financial Developments.
Currently, USD/JPY trades at 119.56 trading up 0.08%, on the day, after hitting fresh day’s high at 119.58 levels few minutes ago. The US dollar is expected to remain elevated versus the yen ahead of US existing home sales data due later in the day. The release of BOJ’s monthly report did little to buoy the Japanese yen.
Meanwhile, the pair is expected to remain in range in this holiday shortened week with Japan closed for a holiday tomorrow.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.64 (Dec 19 High) levels and above which it could extend gains to 120 levels. To the downside immediate support might be located at 118.80 (Dec 19 Low), below that at 118 levels.
Currently, USD/JPY trades at 119.56 trading up 0.08%, on the day, after hitting fresh day’s high at 119.58 levels few minutes ago. The US dollar is expected to remain elevated versus the yen ahead of US existing home sales data due later in the day. The release of BOJ’s monthly report did little to buoy the Japanese yen.
Meanwhile, the pair is expected to remain in range in this holiday shortened week with Japan closed for a holiday tomorrow.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.64 (Dec 19 High) levels and above which it could extend gains to 120 levels. To the downside immediate support might be located at 118.80 (Dec 19 Low), below that at 118 levels.