11 Feb 2015
USD/JPY heads towards fresh highs
FXStreet (Mumbai) - USD/JPY remained elevated in the Asian session, as traders continue to cheer the news of US jobs openings reaching the highest level in 14 years, in absence of any macro data in the day ahead.
USD/JPY retains gains
Currently, the USD/JPY traded marginally higher by 0.10% at 119.56 levels, heading towards fresh session highs at 115.57 levels hit some time ago. The USD bulls rallied against the yen to fresh monthly highs at 119.63 levels in the previous session after jobs openings in the US beat expectations, reporting the highest level since January 2001. The data showed a reading of 5.028 million in December, beating a forecast of 4.99 million, up from a revised 4.847 million a month ago.
Meanwhile, the pair is expected to remain underpinned amid thin trading as Japan is closed today on a national holiday. Moreover, traders now shift their focus on a deluge of economic release from the US later this week for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.63 (Feb 10 High) levels and above which it could extend gains 119.91 (Jan 9 High) levels. To the downside immediate support might be located at 119.10 (5-DMA) levels, below that at 118.69 (50-DMA) levels.
USD/JPY retains gains
Currently, the USD/JPY traded marginally higher by 0.10% at 119.56 levels, heading towards fresh session highs at 115.57 levels hit some time ago. The USD bulls rallied against the yen to fresh monthly highs at 119.63 levels in the previous session after jobs openings in the US beat expectations, reporting the highest level since January 2001. The data showed a reading of 5.028 million in December, beating a forecast of 4.99 million, up from a revised 4.847 million a month ago.
Meanwhile, the pair is expected to remain underpinned amid thin trading as Japan is closed today on a national holiday. Moreover, traders now shift their focus on a deluge of economic release from the US later this week for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.63 (Feb 10 High) levels and above which it could extend gains 119.91 (Jan 9 High) levels. To the downside immediate support might be located at 119.10 (5-DMA) levels, below that at 118.69 (50-DMA) levels.