1 May 2015
USD/JPY inching higher, near 119.80
FXStreet (Edinburgh) - The Japanese yen continues to depreciate vs. its American counterpart on Friday, taking USD/JPY to session highs in the proximity of 119.80.
USD/JPY weaker despite steady BoJ
Further selling pressure is now surrounding the yen despite the BoJ kept unchanged its monetary policy stance in its meeting on Thursday and the auspicious set of releases in Japan posted in early trade. In fact, the unemployment rate ticked lower to 3.4 during March and the manufacturing PMI improved to 49.9 vs. 49.8 previously estimated, while the key inflation gauge by the Tokyo Core CPI rose to 0.4% on a year to April, missing expectations.
USD/JPY key levels
As of writing the pair is up 0.36% at 119.80 and a breakout of 120.05 (cloud top) would target 120.10 (high Apr.23) and finally 120.62 (high Apr.10). On the flip side, the immediate support lines up at 119.33 (200h-MA) ahead of 118.94 (cloud base) and then 118.50 (low Apr.30).
USD/JPY weaker despite steady BoJ
Further selling pressure is now surrounding the yen despite the BoJ kept unchanged its monetary policy stance in its meeting on Thursday and the auspicious set of releases in Japan posted in early trade. In fact, the unemployment rate ticked lower to 3.4 during March and the manufacturing PMI improved to 49.9 vs. 49.8 previously estimated, while the key inflation gauge by the Tokyo Core CPI rose to 0.4% on a year to April, missing expectations.
USD/JPY key levels
As of writing the pair is up 0.36% at 119.80 and a breakout of 120.05 (cloud top) would target 120.10 (high Apr.23) and finally 120.62 (high Apr.10). On the flip side, the immediate support lines up at 119.33 (200h-MA) ahead of 118.94 (cloud base) and then 118.50 (low Apr.30).