17 Jun 2015
USD/JPY pushes higher above 124.00
FXStreet (Córdoba) - The dollar strengthened further and pushed to fresh weekly highs in a surge of demand as investors await the FOMC meeting later on the day.
After a phase of hesitation, USD/JPY broke decisively above the 124 mark and stretched to a high of 124.29 in recent dealings. At time of writing, the pair is trading at 124.25, recording a 0.75% gain on Wednesday.
FOMC meeting eyed
Attention now turns to FOMC policy meeting, due at 18:00 GMT as investors look for signals about when and how the Fed intends to raise rates for the first time in a decade. Fed Chair Yellen will address the press at 18:30 GMT.
USD/JPY technical levels
As for technical levels, next resistances are now seen at 124.69 (Jun 10 high) and 124.73 (Jun 9 high) ahead of the 125.00 psychological level. On flip side, pullbacks could find support at 123.80 (Jun 12 & 16 highs), 123.33/29 (Jun 17 & 16 lows) and 123.10 (Jun 15 low).
After a phase of hesitation, USD/JPY broke decisively above the 124 mark and stretched to a high of 124.29 in recent dealings. At time of writing, the pair is trading at 124.25, recording a 0.75% gain on Wednesday.
FOMC meeting eyed
Attention now turns to FOMC policy meeting, due at 18:00 GMT as investors look for signals about when and how the Fed intends to raise rates for the first time in a decade. Fed Chair Yellen will address the press at 18:30 GMT.
USD/JPY technical levels
As for technical levels, next resistances are now seen at 124.69 (Jun 10 high) and 124.73 (Jun 9 high) ahead of the 125.00 psychological level. On flip side, pullbacks could find support at 123.80 (Jun 12 & 16 highs), 123.33/29 (Jun 17 & 16 lows) and 123.10 (Jun 15 low).