5 Dec 2014
USD/JPY unstoppable, rises above 121.50
FXStreet (Córdoba) - USD/JPY built on nonfarm-payrolls inspired gains and climbed above 121.50 to hit its highest level since July 2007.
Outstanding US jobs report and upward revisions boosted Treasury yields and the dollar across the board, with USD/JPY triggered a sharp rally that has extended toward a high of 121.67. At time of writing, the pair is trading at 121.63, up 1.53% on the day and on track to post its seventh weekly gain in a row.
USD/JPY levels to watch
As for technical levels, next resistances are now seen at 122.00 (psychological level) and 122.42 (Jul 20 2007 high). On the downside, dips might be contained by 121.00 (psychological level) and 120.24 (Dec 4 high).
Outstanding US jobs report and upward revisions boosted Treasury yields and the dollar across the board, with USD/JPY triggered a sharp rally that has extended toward a high of 121.67. At time of writing, the pair is trading at 121.63, up 1.53% on the day and on track to post its seventh weekly gain in a row.
USD/JPY levels to watch
As for technical levels, next resistances are now seen at 122.00 (psychological level) and 122.42 (Jul 20 2007 high). On the downside, dips might be contained by 121.00 (psychological level) and 120.24 (Dec 4 high).