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2 Mar 2015
USD/JPY clings to 120.00
FXStreet (Edinburgh) - The greenback continues to appreciated vs. its Japanese counterpart on Monday, with USD/JPY climbing to 3-week highs beyond the 120.00 handle.
USD/JPY stronger despite US data
The US dollar managed to revert the initial selling tone, gathering traction and lifting spot above 120.00. Disappointing releases in the US economy saw the key ISM Manufacturing coming down to 52.9 during February, missing forecasts (53.1) and January’s reading at 53.5., although the greenback chose to ignore this and extend the rebound instead.
Next of note in the US calendar will be Yellen’s speech, followed by the ADP report, ISM Non-manufacturing and the Fed’s Beige Book, all due on Wednesday.
USD/JPY key levels
As of writing the pair is gaining 0.34% at 120.05 with the next hurdle at 120.48 (high Feb.11) followed by 120.68 (high Jan.5) and finally 120.74 (2015 high Jan.2). On the flip side, a break below 119.63 (hourly low Mar.2) would open the door to 119.13 (Tenkan Sen) and then 119.11 (low Feb.27).
USD/JPY stronger despite US data
The US dollar managed to revert the initial selling tone, gathering traction and lifting spot above 120.00. Disappointing releases in the US economy saw the key ISM Manufacturing coming down to 52.9 during February, missing forecasts (53.1) and January’s reading at 53.5., although the greenback chose to ignore this and extend the rebound instead.
Next of note in the US calendar will be Yellen’s speech, followed by the ADP report, ISM Non-manufacturing and the Fed’s Beige Book, all due on Wednesday.
USD/JPY key levels
As of writing the pair is gaining 0.34% at 120.05 with the next hurdle at 120.48 (high Feb.11) followed by 120.68 (high Jan.5) and finally 120.74 (2015 high Jan.2). On the flip side, a break below 119.63 (hourly low Mar.2) would open the door to 119.13 (Tenkan Sen) and then 119.11 (low Feb.27).