6 Mar 2015
USD/JPY regains 120.00
FXStreet (Mumbai) - USD/JPY trimmed losses and inched back above 120 levels in the mid-Asian session, as the US dollar remains subdued ahead of a closely-watched US employment report due later today.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades modestly flat at 120.07 levels, having previously hit day’s highs at 120.19 levels and day’s low at 119.93. USD/JPY edged higher as the US dollar recovers losses against the yen after the strength in the 10-year US treasury yields at 2.117% continues to support the greenback.
Moreover, USD/JPY also remains underpinned as traders prefer to hold the reserve currency ahead of the key US jobs data which may provide fresh incentives in the day ahead.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.19 levels and above which it could extend gains 120.41 (March 5 High) levels. To the downside immediate support might be located at 119.93 (5-DMA) levels, below that at 119.63 (10-DMA) levels.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades modestly flat at 120.07 levels, having previously hit day’s highs at 120.19 levels and day’s low at 119.93. USD/JPY edged higher as the US dollar recovers losses against the yen after the strength in the 10-year US treasury yields at 2.117% continues to support the greenback.
Moreover, USD/JPY also remains underpinned as traders prefer to hold the reserve currency ahead of the key US jobs data which may provide fresh incentives in the day ahead.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120.19 levels and above which it could extend gains 120.41 (March 5 High) levels. To the downside immediate support might be located at 119.93 (5-DMA) levels, below that at 119.63 (10-DMA) levels.