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2 Apr 2015
USD/JPY fails to sustain gains
FXStreet (Córdoba) - USD/JPY lost momentum and pulled back from daily highs to trade little changed on the day during the American afternoon, amid thin trading volume.
USD/JPY reached a daily peak of 119.88 supported by US jobless claims and trade balance data, but failed to sustain gains and pulled back slightly. At time of writing, the pair is trading at 119.70, with immediate resistances at 119.88 (daily high) and 120.00 (psychological level)
The pair will likely remain within its weekly range, trading on both sides of 120.00 ahead of the US nonfarm payrolls, which is the next key test for dollar.
From a wider perspective, USD/JPY continues to trade near 7-year highs struck at the 122.00 area mid-March, underpinned by divergent Fed/BoJ monetary policy stances.
USD/JPY reached a daily peak of 119.88 supported by US jobless claims and trade balance data, but failed to sustain gains and pulled back slightly. At time of writing, the pair is trading at 119.70, with immediate resistances at 119.88 (daily high) and 120.00 (psychological level)
The pair will likely remain within its weekly range, trading on both sides of 120.00 ahead of the US nonfarm payrolls, which is the next key test for dollar.
From a wider perspective, USD/JPY continues to trade near 7-year highs struck at the 122.00 area mid-March, underpinned by divergent Fed/BoJ monetary policy stances.