10 Aug 2015
USD/JPY trims Friday’s losses
FXStreet (Córdoba) - USD/JPY has been gradually recovering Friday’s losses, climbing to the 124.80 zone as the dollar firms across the board.
USD/JPY bounced from the 124.10 zone where it bottomed in the aftermath of the nonfarm payrolls and rose to a high of 124.77 before losing momentum once again ahead of the 125 mark. USD/JPY has steadied near daily highs over the last hours, and it is currently trading at 124.65, recording a 0.41% gain on the day.
In the absence of first-tied data today, trading will likely remain subdued as investors assess last Friday’s jobs report. On Monday, Fed’s Vice Chairman Stanley Fischer said on Monday the US labor market is nearly back to full health, but that inflation remains weak.
USD/JPY levels to watch
As for technical levels, USD/JPY could find next resistances at 125.06 (Aug 7 high), 125.67 (Jun 8 high) and 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.10 (Aug 7 low),, 123.79 (Aug 4 low) and 123.57 (50-day SMA).
USD/JPY bounced from the 124.10 zone where it bottomed in the aftermath of the nonfarm payrolls and rose to a high of 124.77 before losing momentum once again ahead of the 125 mark. USD/JPY has steadied near daily highs over the last hours, and it is currently trading at 124.65, recording a 0.41% gain on the day.
In the absence of first-tied data today, trading will likely remain subdued as investors assess last Friday’s jobs report. On Monday, Fed’s Vice Chairman Stanley Fischer said on Monday the US labor market is nearly back to full health, but that inflation remains weak.
USD/JPY levels to watch
As for technical levels, USD/JPY could find next resistances at 125.06 (Aug 7 high), 125.67 (Jun 8 high) and 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.10 (Aug 7 low),, 123.79 (Aug 4 low) and 123.57 (50-day SMA).