USD/JPY firmer, flirting with 123.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback keeps its march North on Friday, lifting USD/JPY to fresh highs near 123.00 the figure.

    USD/JPY supported near 122.30

    The dollar has managed to recover part of yesterday’s post-ECB deep sell off, helping spot to stage a rebound from the 122.30 area to the current vicinity of the 123.00 handle ahead of US Non-farm Payrolls.

    Recall that market expectations see the US economy to have added 200K jobs during November. A positive print today could surely give USD further legs as market participants could factor in the results with the increasing probability of a Fed’s lift-off this month.

    USD/JPY levels to consider

    At the moment the pair is advancing 0.39% at 122.95 with the next resistance at 123.69 (high Nov.18) followed by 124.58 (high Jul.30) and finally 125.29 (high Aug.12). On the other hand, a breach of 122.20 (low Nov.16) would expose 121.75 (100-day sma) and then 120.87 (50% Fibo of 125.28-116.46).
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