Back
3 Sep 2015
USD/JPY trims gains below 120.50
FXStreet (Mumbai) - USD/JPY ran out of steam and trimmed gains ahead of Europe open, as the yen was seen regaining control on easing risk sentiment, despite Bank of Japan’s (BOJ) Kiuchi’s dovish comments.
USD/JPY retreats from 120.50 levels
Currently, the USD/JPY pair trades 0.05% higher at 120.38, failing to sustain at higher levels. The major trades in a tight range and now languishes near lows as the greenback receded gains against its major peers with the risk-on flows cooling-off ahead of the ECB decision due later today.
Earlier in Asia, USD/JPY remained well bid amid ripening risk-sentiment on rallying as Asian markets as Chinese markets remain closed for a four-day break.
Looking ahead, markets eye ECB meeting ahead of US trade balance and weekly jobless claims data for further incentives on the major.
USD/JPY Technical levels to consider
To the upside, the next resistance is located 120.70 (Today’s High) levels and above which it could extend gains 121.28 (Sept 1 High) levels. To the downside immediate support might be located at 120 (Psychological levels) below that at 119.20 (Sept 2 Low).
USD/JPY retreats from 120.50 levels
Currently, the USD/JPY pair trades 0.05% higher at 120.38, failing to sustain at higher levels. The major trades in a tight range and now languishes near lows as the greenback receded gains against its major peers with the risk-on flows cooling-off ahead of the ECB decision due later today.
Earlier in Asia, USD/JPY remained well bid amid ripening risk-sentiment on rallying as Asian markets as Chinese markets remain closed for a four-day break.
Looking ahead, markets eye ECB meeting ahead of US trade balance and weekly jobless claims data for further incentives on the major.
USD/JPY Technical levels to consider
To the upside, the next resistance is located 120.70 (Today’s High) levels and above which it could extend gains 121.28 (Sept 1 High) levels. To the downside immediate support might be located at 120 (Psychological levels) below that at 119.20 (Sept 2 Low).