FXStreet (Guatemala) - USD/JPY is currently trading at 123.44 with a high of 123.49 and a low of 123.18. USDJPY is firm with the support of the Nonfarm Payrolls data of last week while the week ahead holds a number of Fed speakers to potentially crystallise the idea that indeed December will be the appropriate time for a Fed hike. The yen on the other hand may come into demand as equities start to swallow the idea of higher borrowing costs when the forward markets start to price in the curve which could limit the advance in the Yen, destined at this stage for a crack at the years highs on the 125 handle. USD/JPY: Options point to risk of further bullish moves USD/JPY levels Technically, price targets a score onto he 124 handle for a possibility of 124.46 and the 18th August highs while first resistance will come as, R2 at 124.38 and then R3 at 124.69 would be next wide level. However, RSI (14) on the daily is into overbought territory and a period of consolidation is expected. However ad significantly, as mentioned by analysts at BBH earlier, ¨The dollar's 50-day moving average moved below the 200-day average in October for the first time since the end of Q3 2014. This too seems to be a function of the extended sideways corrective activity. The cross can turn higher again later this month. " For more information, read our latest forex news.