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3 Feb 2015
USD/JPY upside capped below key resitance
FXStreet (Guatemala) - USD/JPY is currently trading at 117.50 with a high of 117.75 and a low of 116.86.
USD/JPY is moving with familiar ranges, although unable to break up through to test yesterday's highs so far, meeting supply post the 90 pip rally from 116.86. The greenback has taken a dive with a relief rally in EUR/USD on the European Commission headlines that signals a compromise with the Greek debt crisis while the price of oil extended last week's gains again today, pressuring the value of the US dollar also.
USD/JPY resistance through current highs see's the 55-day ma at 118.72 with pressures there weighing the major to the downside and further on, an approach of the downtrend at 119.44 would be a significant move. The major and psychological near term support stands at the mid Dec lows at 115.55/50.
USD/JPY is moving with familiar ranges, although unable to break up through to test yesterday's highs so far, meeting supply post the 90 pip rally from 116.86. The greenback has taken a dive with a relief rally in EUR/USD on the European Commission headlines that signals a compromise with the Greek debt crisis while the price of oil extended last week's gains again today, pressuring the value of the US dollar also.
USD/JPY resistance through current highs see's the 55-day ma at 118.72 with pressures there weighing the major to the downside and further on, an approach of the downtrend at 119.44 would be a significant move. The major and psychological near term support stands at the mid Dec lows at 115.55/50.