2 Jun 2014
USD/JPY advances to 2-week highs
FXStreet (Córdoba) - The USD/JPY picked up momentum and reached fresh 2-week highs at the beginning of the American session, underpinned by firm US yields.
Ahead of PMI readings in the US, the USD/JPY broke above the 102.10 resistance area and advanced to its highest since May 14 at 102.17, with the pair stalling just at the 61.8% Fibo retracement of the 103.02/100.79 fall. At the time of writing, the USD/JPY is trading at the 102.15 area, recording a 0.35% gain on the day.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks above 102.17, next resistances could be found at 102.27 (May 14 high) and 102.35/37 (May 13 high/100-day SMA). On the other hand, supports are seen at 101.75 (Jun 2 low), 101.42 (May 29 low) and 101.35 (May 22 low).
Ahead of PMI readings in the US, the USD/JPY broke above the 102.10 resistance area and advanced to its highest since May 14 at 102.17, with the pair stalling just at the 61.8% Fibo retracement of the 103.02/100.79 fall. At the time of writing, the USD/JPY is trading at the 102.15 area, recording a 0.35% gain on the day.
USD/JPY levels to watch
In terms of technical levels, if the USD/JPY breaks above 102.17, next resistances could be found at 102.27 (May 14 high) and 102.35/37 (May 13 high/100-day SMA). On the other hand, supports are seen at 101.75 (Jun 2 low), 101.42 (May 29 low) and 101.35 (May 22 low).