USD/JPY rises above 119.50, erases NFP losses

FXStreet (Córdoba) - USD/JPY broke above 119.50 and printed a fresh daily high at 119.67. The US dollar extended gains during the American session, trimming losses as stocks in Wall Street consolidate on positive territory. The Dow Jones is up 0.80% and the Nasdaq gains 0.68%.

The pair has risen 70 pips from the lows and climbed above the level it had before the release of the US employment report on Friday when it was trading at 119.60.

So far the area around 119.70 capped the rally, but the pair remains near the highs holding a bullish tone. Above the next resistance lies at 119.75/80 followed by 120.05/10 and 120.30.