9 Jan 2014
USD/JPY makes another attempt at 105.00
FXstreet.com (Córdoba) - Following a consolidative stage, the USD/JPY found buyers and climbed back above the 105.00 mark Thursday ahead of key macroeconomic events.
The USD/JPY rose to fresh daily highs during the European session as investors gear up for the BoE and the ECB decisions. The pair rose to a high of 105.05 but failed to hold for long and pulled back to the 104.95/105.00 area, where it is posting a 0.1% gain on the day. The USD/JPY could extend its consolidation period below the recently hit 5-year high as markets await the nonfarm payrolls tomorrow.
USD/JPY levels to watch
If the USD/JPY manages to decisively break above the 105.00 level, next resistances could be faced at 105.11 (Jan 8 high) and 105.44 (2014 high Jan 2). On the flip side, supports are seen at 104.73 (daily low), 104.60 (100-hour SMA), 104.06/00 (Jan 3 low/psychological level).
The USD/JPY rose to fresh daily highs during the European session as investors gear up for the BoE and the ECB decisions. The pair rose to a high of 105.05 but failed to hold for long and pulled back to the 104.95/105.00 area, where it is posting a 0.1% gain on the day. The USD/JPY could extend its consolidation period below the recently hit 5-year high as markets await the nonfarm payrolls tomorrow.
USD/JPY levels to watch
If the USD/JPY manages to decisively break above the 105.00 level, next resistances could be faced at 105.11 (Jan 8 high) and 105.44 (2014 high Jan 2). On the flip side, supports are seen at 104.73 (daily low), 104.60 (100-hour SMA), 104.06/00 (Jan 3 low/psychological level).