US dollar climbs to fresh daily highs versus yen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/JPY has managed to move slightly higher on Wednesday and printed fresh daily highs at the beginning of the New York session as the dollar picked up pace over the last minutes.

    USD/JPY rose above Asian session highs and peaked at 120.62, roughly at the same level it did Monday, as the greenback found some buying interest in quiet trade. At time of writing, the pair is trading at 120.57, 0.11% above its opening price.

    USD/JPY is rising for third day in a row, extending its recovery from 2-month lows scored at the weekly opening. However, motion remains limited as investors’ interest decreases into the year end.

    USD/JPY levels to watch

    In terms of technical levels, if USD/JPY breaks decisively above 120.62 (Dec 28 & 30 highs), next resistances line up at 120.97 (Dec 24 high) and 121.26 (100-day SMA). On the flip side, supports are seen at 120.10 (Dec 28 low), 120.02/00 (Oct 28 low/psychological level) and 119.60 (Oct 22 low).
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