25 Aug 2015
USD/JPY recovers the 119.70 area
FXStreet (Edinburgh) - The greenback continues to appreciate vs. its Japanese counterpart on Tuesday, now pushing USD/JPY to the 119.70/75 band.
USD/JPY on its way to 120.00
The risk appetite trends remains favouring the US dollar and prompting spot to extend the bounce off recent lows in the vicinity of the 116.00 support, amidst a better sentiment surrounding the riskier assets in spite of another pullback in the Chinese stock market.
Ahead in the session, the performance of US Treasuries in combination with global risk trends will remain the exclusive catalysts of the pair’s price action, while Markit’s Services PMI and New Home Sales will grab the attention in the US docket.
USD/JPY levels to consider
At the moment the pair is up 0.98% at 119.58 with the next hurdle at 120.12 (high Aug.25) followed by 121.27 (high Aug.24) and finally 123.11 (high Aug.21). On the flip side, a breakdown of 118.88 (low Aug.25) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).
USD/JPY on its way to 120.00
The risk appetite trends remains favouring the US dollar and prompting spot to extend the bounce off recent lows in the vicinity of the 116.00 support, amidst a better sentiment surrounding the riskier assets in spite of another pullback in the Chinese stock market.
Ahead in the session, the performance of US Treasuries in combination with global risk trends will remain the exclusive catalysts of the pair’s price action, while Markit’s Services PMI and New Home Sales will grab the attention in the US docket.
USD/JPY levels to consider
At the moment the pair is up 0.98% at 119.58 with the next hurdle at 120.12 (high Aug.25) followed by 121.27 (high Aug.24) and finally 123.11 (high Aug.21). On the flip side, a breakdown of 118.88 (low Aug.25) would expose 116.16 (low Aug.24) and then 116.07 (low Jan.14).