USD/JPY holds above 123.00

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/JPY pulled back from an 11-day high scored earlier on the day as the greenback gave up ground over the last hours amid profit taking.

    USD/JPY reached a peak of 123.33, last seen Nov 19, as month-end flows underpinned the dollar, although it lost momentum afterward. With the subsequent pullback being contained by the 123 mark, USD/JPY is currently trading at 123.12, still up 0.27% on the day.

    Today, a soft series of US data did little to affect USD/JPY price action as main focus remains on Friday’s nonfarm payrolls report, which will be the last key indicator ahead of December’s Fed meeting.

    USD/JPY levels to watch

    In terms of technical levels, next resistances are seen at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.45 (Aug 19 high). On the flip side, supports could be faced at 122.67 (Nov 30 low), 122.20 (Nov 16 low) and 121.77 (100-day SMA).

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