26 Dec 2013
USD/JPY consolidates at 5-year highs
FXstreet.com (Córdoba) - The USD/JPY consolidates within a tight range Thursday having left an upward gap and printed a fresh 5-year high.
The USD/JPY opened 45 pips above its Tuesday close around 104.70 and reached a fresh 5-year peak of 104.82 before settling in a 20-pip range just below unable to pick fresh direction in the absence of economic events or news. At time of writing, the USD/JPY is trading at the 104.75 zone, up 0.5% on the day.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 104.82 (5-year high), and 105.00 (psychological level). On the downside, supports could be found at 104.25 (Dec24 close), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).
The USD/JPY opened 45 pips above its Tuesday close around 104.70 and reached a fresh 5-year peak of 104.82 before settling in a 20-pip range just below unable to pick fresh direction in the absence of economic events or news. At time of writing, the USD/JPY is trading at the 104.75 zone, up 0.5% on the day.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 104.82 (5-year high), and 105.00 (psychological level). On the downside, supports could be found at 104.25 (Dec24 close), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).